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-5105-5170 levels and Support is seen at 4984- 4928 levels.
The SGX nifty is trading down by 78points at 4969
Curcialsupport is seen at 4848
FII's were net  BUY rs 1158 cr in case market  (02-09)

Market may open with a downside gap and may try to get support at lower levels. Expect highly volatile movements.

SENSEX (16821)

Sensex has support at 16751, 16731 and 16515. Resistance at 16868, 16951 and 16989.

NIFTY (5040)

Resistance at 5087 and 5107. Support at 5015, 5007 and 4972.

RECOMMENDATIONS

1)     ACC (1015)

   Support at 1003 and 996. Resistance at 1020 and 1038. (Buy at declines)

2)     RELIANCE (805)

    Resistance is at 807 above 811 and 825. Support at 795 below it may test 782. (Buy at declines)

3)     ICICI BANK (887.15)

Resistance at 895 below 902. Support at 885 below 881 and 872. (Sell at higher)

4)  SBI (1993)

   Resistance at 1205 and 1218.  Support at 1979 below 1965 and more. (Sell at higher)

5)     MRF  (6846)

   Resistance is there at 6913 above 7009 and 7101. Support at 6762 below 6638. (Buy at declines)

DERIVATIVE STRATEGIES

           

SELL SIEMENS FUTURES AROUND 882 LEVELS

SELL BHEL FUTURES AROUND 1748 LEVELS