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 Expect highly volatile movements.
Technically nifty as an intraday resistance at-5035-5070 levels and Support is seen at 4977- 4938 levels.
The SGX nifty is trading down by 40 points at 4973
Curcialsupport is seen at 4844

Market may open with a downside gap and is expected to trade sideways.

 SENSEX (16713)

Sensex has resistance at 16763, 16874 and 16894. Support at 16582 and 16483.

NIFTY (5017)

Resistance at 5033, 5051 and 5061. Support at 5000, 4978 and 4942.

RECOMMENDATIONS

1)     ONMOBILE (62.25)

   Support at 61 and 58. Resistance at 63.5 above 65, 68 and 73. (Buy for short term)

2)     DUNLOP INDIA LTD (13.75)

    Resistance is at 15 above 17 and 18.5. Support at 12.9 below 11.95. (Buy for short term)

3)     SHREE RENUKA SUGAR (59.25)

Resistance at 60.5 above 62. Support at 58 below 57.25. (Buy at declines)

4)  BEML (470)

   Resistance at 472 above 478 and 485.  Support at 465 below 462. (Buy at declines)

5)     ONGC  (257)

   Resistance is there at 259 above 265 above further upside. Support at 253 below 248. (Buy at declines)

DERIVATIVE STRATEGIES

        

   BUY L&T FUTURES AROUND 1612 LEVELS

  BUY BPCL FUTURES AROUND 658 LEVELS