US markets had rallied on Friday. We saw an unexpected Diwali with a huge short covering.
A major good news FII’s are net buyers on Friday expect markets to rally today also. Asia has opened a positive note. I expect a gap up opening of 350+ points on Sensex.Many good news accompanied with many bad news in fact leading market to be range bounded.
The support for the Sensex is 9300 and the resistance to the up move is at 10527-10763
Nifty: (2886) the support for the Nifty is at 2780 and the resistance to the up move is at 2951-3115-3239
RELIANCE: Weekly trend decider 1230, resistance 1530, 1695, support 1065. Today support 1335, once cross 1432, sustained above that level target 1450, 1480,1500
NTPC : Weekly trend decider 133 resistance 152, 163, support 122, 102 Today resistance 147, 156, higher level selling opportunity
ONGC : Weekly trend decider 640 resistance 742, 801, support 582, 480. Higher level major resistance 690-700, real strength show only above that level.
TISCO: Weekly trend decider 193, resistance 236, 258, support 171, 128. Keep a stop loss 185 target 234 in coming days.
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