Trading Levles & Positional trading calls Jan06, 2009

Nifty Futures - Levels - (Pivot- 3108.7)
Resistance: 3151 - 3180.7 - 3223.50
Support : 3079.5 - 3036 - 3005.5

Reliance - Spot- (Pivot - 1345)
Resistance: 1396 - 1427.9* - 1478
Support : 1314 - 1263 - 1232

L&T - Spot - (Pivot - 850)
Resistance: 868 - 879 - 897
Support: 839 - 821 - 810

Trading calls:
BHARTIARTL - Buy Above 685 with a Sl 677 tgt 695 >> 702 >> 711
MOSERBAER - Buy above 83 sl 81 tgt 85.50 >> 88 >> 90
IBREALEST - Buy above 153 sl 147 tgt 158 >> 161

Market View Jan6,2009

Good Morning ...!!

Welcome to a new trading session in India.
The last trading session closed strong after the sentiments in the frontline commodity stocks moving strong. Nifty gave a breakout above our said resistance of 3080 & closed around the next resistance of 3131. This rally may extend max upto 3220 as of now. Today we may open marginally positive, backing to the mixed cues from the Asian Indices. The US indices Closed weak after opening positive in the last trading session.

Please exit form longs and book profits at the highs as 3180 on nifty is the most strong resistance if crosses will touch the 3220 mark and stay positive for a short term.. We may see a sell-off of 300-500 pts on Nifty by "XX" feb, Be cautious