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.  Market will remain choppy asthe expiry of september month F&O contract TODAY. Highly Volatile movements can be expected
Technically nifty as an intraday resistance at-5010-4960 levels and Support is seen at 4903- 4858 levels.
The SGX nifty is trading down by 7 points at 4938
Curcial support is seen at 4772
FII's were net  BUY rs 185 cr in case market  (28-09)

Market may open with a downside gap and is expected to trade lower. Highly Volatile movements can be expected

SENSEX (16446)

Sensex has resistance at 16509, 16645 and 16755. Support at 16378, 16282 and 16150 and below further selling is seen.

NIFTY (4945)

Resistance is at 4972, 4984 and 5000. Support at 4932, 4923 and 4903 an below further selling is seen.

RECOMMENDATIONS

1)       GLENMARK (323)

   Support at 318 and 313. Resistance is at 327 above 331 and 337. (Buy for delivery)

2)       PIPAVAV (80)

    Resistance is at 81.50 above it can test 83 and 86. Support at 79 and76.50. (buy for delivery)

3)       TATAMETALIKS(82.15)

Support is at 80 and 78.  Resistance at 83.1 above it can test 85 and 88. (Buy for delivery)

4)  AXIS BANK (1072.70)

   Support at  1068 below it may test 1055 and 1041 .  Resistance at 1080 and 1085 (sell at higher)

5)       BAJAJ AUTO(1515)

   Support at 1501 below it may test 1485 and more resistance at 1532 and 1542 (sell at higher)

DERIVATIVE STRATEGIES

    

 BUY HDFC FUTURES AT AROUND 643

       

BUY SUN PHARMA FUTURES AT AROUND 464