Nifty Future for 31st august

5390 is acting as a strong support as 5380- 5390 is major support zone. If nifty fut trades below this level with volume then we can see 5350- 5310 and 5280 in coming days. so can sell short below 5390 with stop of 5454 for above mentioned targets.

Stocks Pick For 31 th august:

Stocks Pick For 31 th august:
Buy:
Titan Fut Above 3050 s/l 3015 targets 3090-3130
PFC Ard 347 s/l 342 targets 352-360
Tata Steel Ard 532 s/l 522 target 537-543

Sell::
BHEL FUT ard 2464-66 s/l 2480 targets 2425-2400
Reliance below 945 s/l 955 tagets 935-925

Expert View on Nifty Future

Nifty future Positional Call : nifty fut has broken all short term support line. Expecting it to fall down to 5100 then 4920. Sell it between 5440-5460 with stop loss of 5510. Book intial profit at 5340 and if breaks 5340, add more for the target of 5100.

FOR 30 Aug, 2010

September Expiry month started with heavy selling in market. Correction was expected in the market from long time and it came on friday. Continuation of this correction phase will depend upon the 5390 - 5350 levels. If nifty trades below these levels , we can witness more selling.

SENSEX closed at 17974, down 251 points and Nifty at 5397, down 80 points from the previous close. The market breadth was negative with advances at 299 against declines of 997 on the NSE. Top Nifty gainers were GAIL, ONGC and TATA STEEL while top losers were DLF, HERO HONDA and AXIS BANK.

IF nifty sustained below 5390 it may test 5350- 5310- 5280 levels. 5454 now appears as a strong resistance level.
Sell nifty below 5390 with s/l of 5454.