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 4912-4981 - levels and Support is seen at4852- 4911 levels.
The SGX nifty is trading down by 33 points at 4874
Curcial support is seen at 4718
FII's were net  sellers rs 1306 cr in case market  (22-09)

Market may open with a downside note and is expected to trade sideways. Selective buying can be seen by noon.

SENSEX (16361)

Sensex has resistance at 16395 and 16436. Support at 16217, 16153, 16000 below more selling.

NIFTY (4923)

Resistance at 4950 and 4985. Support at 4911, 4883 and 4869.

RECOMMENDATIONS

1)     TATA STEEL (442)

   Support at 439 below 430 and more. Resistance at 447 above 454. (Sell at higher)

2)     WIPRO (340.35)

Support at 338 below 332 and 325. Resistance at 345 and 348. (Sell at higher)

3)     M&M (783.55)

Resistance at 785 and 793. Support at 779 below 772, 765. (Sell at higher)

4)  DLF (198)

  Resistance is there at 202 and 208. Support at 195 below 191 and more. (Sell at higher)

5)     HINDALCO (139.1)

   Resistance is there at 142 and 144. Support at 136 below 133 and more. (Sell at higher)

DERIVATIVE STRATEGIES

      

     SELL DR REDDY FUTURES AROUND 1518 LEVELS

   

    SELL HINDALCO FUTURES AROUND 142 LEVELS