NIFTY STOCK MARKET : Last week it was reversal from the 200 DMA 5730 and finally made a low of 5453. On the other hand disappointing earnings from the front line companies and US debt crisis seemed undecided about the market direction by FIIs. Derivative volume crossed Rs. 230000 crores in last few sessions indicate big move in either side in next week. 

The next focus mainly drama in US legislature at the 2nd August deadline for hiking the $14.3 trillion debt ceiling draws close. There could be a relief rally if a resolution accepted by both houses before the deadline, if not accepted, so overall crash situation in worldwide likely. Weekly Magic No. 5603.

Fibonaci Study: As per broad based Fibonacci projection study from the low in 2004 and the significant high and low of 2008 calculate, which reveal next target of 7317 which is a 61.8%

BSE : After RBI policy, big down side seen resulted week-to-week, the short-term trend turned negative last week with sensex moving below 50 as well the 20 DMA. The weekly oscillators also decline into negative zone last week. In this week, we may consider a strong support 18000, in that even the decline can further extended up to 17500-17314. However, at lower level buying emerges cannot be ruled out. On the positive side, it will face resistance 18350-18500 then 18850. Failure to cross 18350-18400 will be an indication of an impending decline. Weekly Magic No. 18424.

Today: BSE SENSEX open negatively and it was showing some volatile session on down side in the market and close negatively. Now we may consider resistance18200-18320 and support is 18012-17781. Magic No. 18037 - Close below 18000 easily wipe out 300 points.

BANK NIFTY STOCK MARKET : Last week due to RBI credit policy major jerk were saw in Banking Index resulted made a low of 10763 from the high 11435 and almost wipe out more than 750 points and finally closed at 10926. Now consider resistance 11000-11125 in near term, downside support 10850, decisively break with volume nonstop target 10500-10400 range. Magic No. of this week 11125.

Today: Intraday Nifty open flat too negatively and It was showing volatile session in the market and close negatively. Today support is 10750-10635-10520 mark, higher level resistance 10800-10941-11000 watch out. Today Magic No. 10730.

CNX IT : Today: CNX IT open negatively and it was showing down side volatile situation and close negatively. It breaks the 6300 level and tries going the 2nd support level. Now we may consider support of 6250-6222-6199 and resistance we can see around firstly 6325-6359-6400. Trading below 50 and 200 DMA.

Looks HOT SELL...
We are in selling mode below 230.
Last and final support exit 205 - then 190.

Last week we have recommend to sell below 900
And added more short once break 860 -
Overall trend is bearish...
Time being support 820 - corrective rally but try to exit.
Down side target 820-800 then 756 possible.

Below 85 time to sell side.
Time to book profit and re enter at lower level. 

980 to 1120
Sell at higher level
Sell at lower level also...

Result Day
Watch support level 427-430
Decisively break only weakness.
Higher level resistance 444 - Strength above only. 

Below 307 u will see...?
Higher level resistance.

Close eye 678-680 and decide
Your trading strategy.


Time to sell ...
Below 1350 do not think to buy.

Below 100 selling opportunity.


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