NIFTY FUTURE - SBI -ICICI - AXIS - RELCAP ANALYSIS FOR 01/10/12

DON'T CHASE THE MARKET. If you are slow, and miss a day trade that suddenly looks like it would have made you a fortune, do NOT panic and try to jump in late - you will almost certainly be buying the top or selling the bottom. Remember that the market will be there tomorrow, and the day after, and for ever, so ANY trade, no matter how important it looks, can be ignored if necessary. Keeping your powder dry, and being ready for the next one, is more important than hitting every day trading opportunity you see. Many successful day traders only trade for a few hours a day - they miss plenty of action but don't care, because they know the market will be around when they come back.

LAST CLOSE @ 5730

THE SHORT TERM TECHNICAL PICTURE IS STILL BULLISH.

FOLLOW BUY ON DIPS STRATEGY

A BREAKDOWN BELOW 5630 WILL SIGNAL THAT THE UPTREND IS FINISHED AND ALSO A MOVE ABOVE 5770 SIGNAL CONTINUATION OF UPMOVE

MAIN SUPPORT AROUND  @ 5640---------- 5630 LEVELS

MAIN RESISTANCE AROUND @ 5780--------- 5790 LEVELS

IF PRICE CAN TRADE AND  SUSTAIN ABOVE 5735 WITH VOLUME FOR 10- 20 MINUTES 

THEN BULLS TRY TO KISS

5766 ------ 5780 ------- 5785- -----5790

TRADE BELOW 5730

SEE NON STOP FALL UPTO

5708 -------- 5700

THEREAFTER

5678 AND 5670 WILL ACT AS SUPPORT

LAST CLOSE @ 2241

MAIN SUPPORT @ 2170- 2155

MAIN RESISTANCE @ 2285- 2300

INTRADAY VIEW

TRADING BELOW 2240...INDICATING WEAKNESS

SEE SLIDE UPTO 2225 - 2215

INTRADAY RESISTANCE @

2252 ------- 2265- -------2278

LAST CLOSE @ 1059

MAIN SUPPORT @ 1050 AND 1030

MAIN RESISTANCE @ 1085 AND 1090

INTRADAY VIEW

 SUPPORT @ 1050 AND 1041

INTRADAY RESISTANCE 

@

1072 AND 1080

LAST CLOSE @ 431.50

SUPPORT @ 420- ---------423 LEVELS

STIFF RESISTANCE AROUND 445

LAST CLOSE @ 1136

INTRADAY SUPPORT @ 1130 - 1120

STRONG SUPPORT @ 1120

RESISTANCE  AROUND 1150 AND 1160

Subject To Disclaimer

SIMPLE ANALYSIS OF INFY - SBI -HDIL - RELIANCE

IMPORTANCE OF VOLUME

ALERT !!! VOLUME DIVERGENCE IN SBI
Volume is an important indicator in gauging the strength of a move, wheather upward or downward. If an up or down side price movement is accompanied by high volume, the move can be termed as strong.

If a 

stock is an uptrend but the up trading days are marked by lower volumes , it is assign that the trend is starting to lose steam as the bulls are exhausted and such a trend may end soon.

When a market or stock is rising , but the volume is falling, it indicates that the price is no longer driven by demand. Decreasing volume coupled with rising prices is generally a warning signal and one should be careful at this point may lead to an imminent correction.