Market may open flat to negative. We may see higher level selling which can be expected by noon. Selective buying can be seen in the later part of the day.
Sensex (20156)
Sensex has resistance at 20229, 20340 and 20440. Support at 20100, 20070 and 19938.
NIFTY (6071)
Resistance at 6085, 6102, 6120 and 6151. Support at 6051, 6031, 6016 and 6003.
RECOMMENDATIONS
1) ICICI BANK (1200)
Support at 1195 below it may test 1182 and thereafter more selling is expected. Resistance at 1212 and 1228. (Sell at higher)
2) SIEMENS (825)
The stock has resistance at 840 above 852. Support at 810 and 815. (Buy at lower)
3) RELIANCE CAPITAL (784)
Support at 778 below it may test 771 and more (Sell at higher). Resistance at 790 above it can test 798.
4) SONATA SOFTWARE (56.35)
Support at 55 and 53.5 (Buy for short term). Resistance at 58 above 61 and 65 above more buying can be seen.
5) INFOSYS (2998)
Support at 2972 below more weakness expected (Sell at higher). Resistance at 3015 if moves up then it can test 3032.
DERIVATIVE STRATEGIES
BUY IOC MOTORS FUTURES AT 395
SELL RCOM FUTURES AT 173
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