Nifty future is getting good buying support at the lower levels and looking technically strong for more fresh up moves. The next technical resistance for nifty future seems close to the level of 6050. Decisive closing above this resistance zone may take up nifty future for the levels of 6100, 1650 in near run. The immediate support for nifty future seems close to the levels of 5935 to 5945. Decisive closing below this support zone may make it slip till the lower levels of 5895 to 5900 in near run. For intraday we recommend long position in nifty future above 6050 for the targets of 6100, 6150 with the intra day stop loss around 5995.

Bank nifty is still maintaining above 12000 from a while. Now technically it is looking for more gains from here. The next technical resistance for bank nifty future seems close to the zone of 12350 to 12365. Decisive closing above this resistance zone may take up it till the level of 12500 in near run. The immediate support for bank nifty future seems close to the levels of 12080 to 12090. Decisive closing below this support zone may slip it till the levels of 11990, 11860 in near run.

Market Trend

Satyam Computer Services Ltd. (Mahindra Satyam) announced that it has notified the New York Stock Exchange (NYSE) of its intent to delist its American Depositary Receipts. In accordance with the rules and regulations of the US Securities and Exchange Commission (SEC), the Company intends to file a Form 25 (Notification of Removal from Listing under Section 12(b) of the Securities Exchange Act of 1934) with the SEC on or about October 4, 2010. The Company anticipates that the delisting of its ADRs from the NYSE will be effective on or about October 14, 2010.

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