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As the markets continue to trade in the negative and the selling pressure prevails we recommend that it is not a right time to buy into weakness, if the market throws any opportunity, when you see higher levels of 30-50 points on the Nifty, it is an opportunity to get out of the market. So trade in small profit.

RESISTANCE: It has first resistance close to the level of 5440 & above this level the next resistance is seen near the 5540 mark.

SUPPORT: It has first support close to the level of 5350 & below this level the next support is seen near 5230 mark.

Action
Sell Nifty Futures below Rs 5,357
Target: 5,330-5,309, Stoploss: above Rs 5,388.



Bank Nifty Futures-
On the other hand the Bank Nifty futures closed at 10330 losing -336.25 points or -3.15% down. It looking Bearish in coming trading session.

RESISTANCE: It has first resistance close to the level of 10600 above this level the next resistance is seen near to the level of 10750.

SUPPORT: It has first support close to the level of 10260 & below this level the next support is seen near 10000 marks

Action
Sell Bank Nifty Futures below Rs 10,330
Target:  10,275-10,220, Stoploss: above of Rs 10,400.

Here are the top gainers for the nifty for today-

Market Strategic View on Nifty (6th April ’11)-


The market ends flat today and make +1.60 positive point, the last trading session was the best for the traders and today the market closed with 5910.05. 
So the tomorrow's condition will decide the market statistics.


The Nifty futures closed and settled finally at 5926, up by 17 points or 0.29 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 6000 else below 5870 it would be in a downward trend.


RESISTANCE: It has first resistance close to the level of 6000 & above this level the next resistance is seen near the 6072 mark.


SUPPORT: It has first support close to the level of 5870 & below this level the next support is seen near 5770 mark.






Market View on Bank Nifty (6th April ’11)-


In banking, CNX Bank Index lost -5.40 points or -0.05 %. Amongst the banking stocks Vijaya Bank, Uco Bank and Syndicate Bank lead the row.


Bank Nifty Futures shut stop at 11845.10 up by +39.85 points or +0.34 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11956 else below 11684 it would be in a downward  trend.


RESISTANCE: It has first resistance close to the level of 11956 above this level the next resistance is seen near to the level of 12050.


SUPPORT: It has first support close to the level of 11728 & below this level the next support is seen near 11580 marks.

Nifty closed on friday at 5826
Sensex closed on friday at 19420

 Technically the market has come out of a trading range and so you may see some up move in the days to come. Also now heading into an F&O expiry week and so an up move with volatility is not ruled out. From a trading point of view I buy as long as 5500 holds’

The market unfolded as expected and has closed positive in the green. Technically the market has had a good run and is ripe for a pause or a reaction. Technically the market is also against a stiff resistance of 5879 and so I would be a bit cautious here though there is no sign of weakness as yet. Technically the if the market stays above 5879 then the next logical target is 5956.

From a trading point of view I would prefer to book profits or stay long as along as 5775 holds.

In banking, CNX Bank Index lost 114.50 points or -0.51 %. Amongst the banking stocks Union Bank of India, Yes Bank and State Bank of India lead the row.

Bank Nifty Futures shut stop at 11689 down -74.35 points or 0.63 %.It is looking bullish in the coming trading session if it manages to trade above the resistance level of 11800 else below 11580 it would be in a downward  trend.

RESISTANCE: It has first resistance close to the level of 11800 above this level the next resistance is seen near to the level of 11960.

SUPPORT: It has first support close to the level of 11580 & below this level the next support is seen near 11335marks.

Today Nifty closed at 5834 with the +46.10  positive nodes 0.80% in percentage. Technically the market is up  and the next logical target is 5826 but rule out profit booking on the last day of the F&O expiry’ the market unfolded as expected climbed to the high of 5872 and closed towards near our resistance…technically  5979 still is a strong resistance to deal with…

The support for the Nifty is at 5780 and resistance at 5879

BSE Sensex: (19445) the crucial support on the Sensex on the downside is 19285 and resistance at 19584

Benchmarks extended winning streak for eighth consecutive session and closed above psychological resistance levels of 5800 on the settlement day of March series F&O expiry. The S&P CNX Nifty closed at 5833.75, up 46.10 points or +0.80 %.

The Nifty futures closed and settled finally at 5833.75, up by 34.35 points or 0.59 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5885 else below 5770 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5885 & above this level the next resistance is seen near the 5925 mark.

SUPPORT: It has first support close to the level of 5770 & below this level the next support is seen near 5660 mark.