Market started with a negative mode today and touch a intraday low of 4538.4 early in morning today although it manages to close in positive trend.

Today Nifty closed at 4,733.85 with 40.70 gaining points or 0.87% up. Nifty clawed back above the 4700-mark for the first time in last five sessions on closing basis, aided by further short covering in banks, capital goods, oil & gas, FMCG and power stocks. European markets too lifted the confidence, rising 1-1.5% led by banks.

Today Nifty Closed at 4,733.85 with the gain of 40.70 points or 0.87% Up. Nifty is looking bullish in the next trading session if it manages to trade above the Resistance level of 4830 else below Support level of 4640 it would be in an down trend.

Support      :  4640  :  4570.

Resistance  : 4830   :  4900.

Market was on full boom today. It was a pure bullish day for all segment of market. Nifty has a record step up with 148.95 points today and closed at 4,693.15 or 3.28% up. It was a bullish day for nifty as we have recommended yesterday. It was started with a positive mode today and made a intraday high of 4755.95 but it fall back to 4600 levels.

Today Nifty Closed at 4,693.15 with the gain of 148.95 points or 3.28% Up. From here nifty is looking more bullish. It is looking bullish in the coming trading session if it manages to trade above the Resistance level of 4770 else below Support level of 4610 it would be in an down trend.

Support       :  4610  :  4550.

Resistance   :  4770  :  4840.

Nifty is getting more bearish trend, Today also nifty closed with a nagetive mode. Although Today it start with a positive mode and touch the intraday high of 4650.85 but after that nifty had get selling presure and come down to the levels of 4500. It was clear that bears have taken over the Street and have set up camp for good. Experts are turning bearish on India as they feel that macro-economic and government policies can only trigger market now.

May be the reason is down trend of Rs against US Dollar. The rupee has dropped more than 16% against the US dollar since July, making it Asia's worst performing currency this year.

Today Nifty Closed at 4,544.20 with the loss of 68.90 points or 1.49% down. From here nifty is looking more bearish. It is looking bearish in the coming trading session if it manages to trade below the support level of 4450 else above resistance level of 4620 it would be in an upward trend.

Support      :  4450  :  4370.

Resistance :  4620  :  4700.

Today also nifty closed with a nagetive mode. Today it start with selling presure and touch the level of 4500 in early session of the day, may be the reason is down trend of Rs against US Dollar. The rupee has dropped more than 16% against the US dollar since July, making it Asia's worst performing currency this year.

Today Nifty Closed at 4,613.10 with the loss of 38.50 points or 0.83% down. From here nifty is looking consolidate. It is looking bearish in the coming trading session if it manages to trade below the support level of 4530 else above resistance level of 4700 it would be in an upward trend.

The market will get capped upwards, close to 5,250-5,350 range. After that, it will remain in the range of 4,750-5,250 because the down fall of the US margkets,while they are aiming towards reviving economy, we need to see something quite concrete coming up from the eurozone as well. Hence, September would still remain little range bound.

If the Nifty goes to 5300, it is actually a sell zone, not a buy zone. It is a right time to play individual stocks. If stocks reach the individual levels, then this is a good time to take profits if you manage to buy lower.

Other factor is Obama's package is mainly based on tax cuts which remain to be seen on what the real impact on the economy would be. The market is still skeptical about the impact, and the focus is still on finding a solution in Europe. 

Suggestions-

There is a possible a bull spread of 5,200 to 5,400 on the Nifty, but with a stop of 5,090.

Go for  : Tata Steel, Sterlite

Sell      : Reliance

Avoid   : Bata, Jubilant

Support        :  S1  :  4940,  S2  :  4860.