Indian Market outlook:-

Indian equities are expected to get a  opening down on back of negative global cues and remain volatile due in latter session.
Technically nifty as an intraday resistance at-5035-5070 levels and Support is seen at 4947- 4893 levels.
The SGX nifty is trading down by 30 points at 5027
Curcialsupport is seen at 4750

Market may open with a sideways to positive note and is expected to trade higher. Minor profit booking is expected in the later part of the day.

SENSEX (16675)

Sensex has support at 16612, 16529 and 16497. Resistance at 16728, 16753 and 16815.

NIFTY (5001)

Resistance at 5017, 5031, 5050 and 5065. Support at 4985, 4973, 4953 and 4945.

RECOMMENDATIONS

1)     EVERONN (439.5)

   Support at 434 and 430 if moves down it may test 420 and 411 or even lower. Resistance at 448 and 457. (Expect volatile movements)

2)     HERO MOTORS (2051.75)

    Resistance is at 2063 above 2077 and more. Support at 2042 below it may test 2029. (Buy at declines)

3)     BHEL (1768.35)

Support at 1760 below 1755, 1740 and more. Resistance at 1775 above 1790. (Sell at higher)

4)  M&M (738.15)

   Resistance at 742 above 748 and 753.  Support at 732 below 723. (Buy at declines)

5)     HDFC BANK  (472)

   Resistance is there at 475 above 481 and more. Support at 465 below 457. (Buy at declines)

DERIVATIVE STRATEGIES

          

BUY RANBAXY FUTURES AROUND 465 LEVELS

   

SELL BHEL FUTURES AROUND 1785 LEVELS