18-SEP-2008

NIFTY ANALYSIS :
Markets closed in red today after the choppy trade. Most of the stocks closed around 52-w low. Further the bias likely to remain weak due to concerns over the health of financial markets worldwide. Technically Nifty is facing strong resistance around 4100. If Nifty managed to stay above 4100 for at least half an hour, one can go for long side. But till then wait and watch. Below 3900 one can go for short with stop loss of 4055. Below 3900 target could be around 3750.

NIFTY FUTURE :
For a day trading view, below 4033 it's a more chance to touch 3950 to 3892 level. At upside above 4033 it go for 4091 and if break this with volume then go for 4174 to 4232 level.

BSE SENSEX : Now below 13336 it slide to touch 13052 and once broke this level then it slide up to 12843 to 12559 level. At upside above 13336 it zoom to kiss 13545 and then 13829.

RELIANCE : Below 1894 it slide up to 1829 to 1782 level. At upside it face hurdle at 1941 once cross this level then go for 2006 level.

SBI : Now below 1547 more chance to touch 1494 to 1458 level. At upside above 1547 it go for 1583 to 1636 level.

TATA STEEL : For a day trading view, Trade below 461 lead it to the 450 to 433 level. At upside it face hurdle at 478 and then 489.

L&T : Now below 2514 it slide up to 2469 to 2436 level. At upside it face hurdle at 2547 and once cross this then it go for 2592 to 2625 level

.INFOSYS : Now above 1550 it go for 1598 to 1626 level. Suppose break 1550 then slide up to 1522 level.

ONGC : For a day trader, it has a support at 972 level if break this then slide up to 946 to 915 level. At upside above 972 it zoom to kiss 1003 here it face hurdle once cross this too then it go for 1029 to 1060.

REL CAPITAL : Below 1088 it slide up to 1041 to 1013 level and if break this too then slide up to 966. At upside above 1088 it go for 1116 to 1163 level

.REL INFRA : Below 835 it slide up to 816 to 803 level. At upside above 835 it zoom to kiss 848 to 867 level and then 880.

BHEL : Below 1619 it slide up to 1568 to 1532 level. And above 1619 it go for 1655 to 1706 level.

DLF : It slide up to 397 and if break this too then further slip to386 to 367 level. At upside face resistance at 416 and then 427.