The CNX IT index last week ended at its 5884.30 Mark gaining 1.74%. The CNX IT Futures prices surged along with increase in the cost of carry but with decline in the open interest on weekly basis, this is an indication that the index raised more on account of short covering rather than fresh long built up. For the coming week, immediate Support for the Index is seen in the range of 5800-5675 mark, below this mark the Next Support is seen at 5620/5550 mark whereas on the upside Resistance is seen at 5920/ 5970 levels.


Last Week the Nifty Index ended at 5135.50 Mark gaining 1.36%. The Nifty Futures (June) closed at a discount of 15.55 points vs. 25.55 points last week. On the derivatives front we can see that the Nifty Future prices gained along with an overall addition of open interest and increase in the cost of carry in comparison to previous week, this is an indication of some longs being built at lower levels. For the coming week immediate Support for Nifty is seen in the zone of 5040-4960, if this range is breached decisively downside pain may continue to prevail in which case Nifty may drag towards its Next Support zone of 4850/4780 whereas on the upside Resistance is seen in at 5160/5236 Mark.

Stock Options Trend

Maximum addition of open interest on put options front is seen at strike price of 5000-4800 indicating it as immediate support zone on the downside whereas on the call options front we have seen maximum addition of open interest at strike price of 5200 indicating it as Resistance on the upside.

Nifty Resistance and Trend

Indian Stock Market finished with little changed on Thursday as mixed set of economic data on Jobless claims & Retail sales. However, Traders and Investors remained timid ahead o Friday'smonthly Jobs report. Most Asian averages are trading with a negative bias on Friday morning. Stock markets in India are expected to open in a constricted range in the morning. For The NSENifty, Stock Futures, the Critical level is seen at 5088 above which overall sentiment will remain bullish. The first Nifty Resistance for the day comes at 5124 wherein if market stabilizes above this, we can expect further upside towards the Major Resistance at 5148.

Market News

Reliance revives plan to build chemical plant: Reliance Industries may start work on a multibillion-dollar chemical plant this year, reviving a project to meet India’s surging demand for the raw materials for plastics, drugs and textiles. RIL is close to deciding the final configuration of the plant, which will be capable of producing 1.6 million metric tonne a year of chemicals such as ethylene and propylene.

NSE Most Active Futures

Symbol	Expiry Date	Prev Close	High Price	Low Price	Last Price
TATASTEEL	24-Jun-10	485.30	495.90	483.10	485.50
TATAMOTORS	24-Jun-10	746.75	771.70	757.70	764.05
JSWSTEEL	24-Jun-10	1049.00	1084.85	1055.25	1034.00
RELIANCE	24-Jun-10	1014.75	1039.00	1021.20	1034.00
SBIN	24-Jun-10	2238.55	2284.05	2254.55	2269.00
HINDALCO	24-Jun-10	143.55	147.90	145.05	146.35
RCOM	24-Jun-10	155.10	166.25	155.90	164.95
SESAGOA	24-Jun-10	361.60	379.40	365.00	371.40
ICICIBANK	24-Jun-10	829.40	844.80	836.00	840.20
AXISBANK	24-Jun-10	1200.15	1246.00	1210.90	1244.70

Reliance Industries Looking for $1 billion loan

HONG KONG: Reliance Industries Ltd is seeking a $1 billion loan at pricing and a tenor that will test bank appetite for Indian credits, banking sources said. Bids on the new money loan were due on Thursday, the sources said, with the borrower requesting a tenor of seven years and pricing below 200 basis points (bps) all-in.

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Get All Nifty Futures, Stock Futures, Stock Options resistance and level.

Stock futures For Today
Now day Nifty Resistance comes at 5125 close above trg 5156 / 5185 / 5215
Support at 5060 :: also Stoploss for long on closing basis

ACC Call ACC Put


CA : 820.00 (24-Jun-2010) Price : 23.30

Turnover : 12.63 Lakh

Open Interest : 1504 Up Adds (1504.00) Shares PA : 820.00 (24-Jun-2010) Price : 10.75

Turnover : 0.00 Lakh

Open Interest : 0 Up Adds (0.00) Shares

CA : 840.00 (24-Jun-2010) Price : 14.50

Turnover : 6.42 Lakh

Open Interest : 3008 Up Adds (376.00) Shares PA : 840.00 (24-Jun-2010) Price : 46.75

Turnover : 0.00 Lakh

Open Interest : 376 Up Adds (0.00) Shares

CA : 900.00 (24-Jun-2010) Price : 6.00

Turnover : 6.80 Lakh

Open Interest : 3384 Up Adds (0.00) Shares
PA :900.00 (24-Jun-2010) Price : 45.00

Turnover : 0.00 Lakh

Open Interest : 3384 Up Adds (0.00) Shares

Nifty Trend
The Nifty fell substantially on Tuesday (June 01, 2010) a net 116.10 points (2.28%) and closed at the 4970 point level. The Nifty declined and closed below the psychological level of 5000 points level due to sell off in the global markets, coupled with a decline in commodities and currencies market. The market opened at its day high at 5086 points level. It then declined throughout the day until closing near the day low. The Nifty moved in a range of 126 points. Sentiment was extremely bearish and amongst the 50 Nifty stocks, 44 were losers, while just 6 were gainers. Heavy selling was witnessed across all the sectors.
Technical Analysis:
Volume (Qty shares) increased 9.92%. This change is moderate and indicates a moderate participation by investors.
Market Breadth: Overall Market Breadth on the NSE was negative. Amongst all the traded stocks, 368 were gainers, 959 were losers and 43 remained unchanged.

NIFTY Future
RESISTANCE-5103/5119/5146
SUPPORT-5070/5053/5026
SENSEX
Resistance-16990/17036/17111
Support-16899/16854/16778
Above resistance= Strong
Below support =Weak

You can take All Stock futures trend and stock Option trend from this blog. This Blog Will give you stock futures and option tips and news.
If NIFTY breaches 5119 and stays above 5103 with good volume then NIFTY may see 5145.If Nifty breaches 5053 and stays below 5070 then NIFTY trend is bearish.Then expected lower target is 5030.
If SENSEX breaches 17036 and stays above 16990 with good volume then possible upper target is 17100.If Sensex crosses 16854 and stays below 16899 level then Sensex trend is bearish. Then expected lower target is 16780.



Exceeding the market expectations, Asian Paints logged good performance in its fourth quarter ended March 2010. The consolidated net sales grew by 32% while the net profit increased by 90% over the previous year. However, these results are not comparable with the same quarter of the previous year as they include six months of results of overseas subsidiaries (October 2009-March 2010). Adjusting for the additional three months, the comparable net sales have registered a modest growth of 16% and net profit has increased by 76%.


Bharat Petroleum Corporation


Price Information

Prev Close

575.2



Last Price

575.20


Open

581.60



Volume

77472.00


Day Low

562.05



Day High

596.00


Week Low

550.00



Week High

596.00


Month Low

511.20



Month High

596.00


Year Low

407.00



Year High

658.00

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