Nifty Sensex analysis From 1 Feb 2010 to Nifty Expiry on 25 Feb 2010 Outlook prediction Important Support Resistance levels

Nifty Sensex analysis From 1 Feb 2010 to Nifty Expiry on 25 Feb 2010
Outlook prediction Important Support Resistance levels

Nifty CMP : 4882
Sensex CMP : 16357

4885 on Nifty and 16411 on Sensex is the Demarcation Boundry between Buy and Sell Zone.
All the Bullish analysis is valid if nifty and Sensex manage to Close above these levels
First the Charts

Analysis on Basis of F&O

4800 Level in Nifty is going to provide a good Support as there are large NO OF PUT open interest on this level.But as happened in past Nifty may breach these levels again to trigger stop losses of Bulls

Corresponding levels in Sensex to watch is 15990

there is Strong Call open interest at 4900 and 5000 Nifty levels,So these will offer first resistance

Sensex will Face  resistance near 16600 levels

Technical Analysis :

50 DMA average of nifty is near 5000-5100 Zone so this will be the Zone of real Resistance.Sensex Will Face Resistance in region of 17100-17200

Nifty RSI is 37.36 Which indicates oversold Condititions

CCI is -143 again oversold conditions

Common Sense Analysis and verdict :

Buy any 100 point Dip in Nifty  and corresponding level in Sensex with 50 point Stop loss ( in Nifty).our markets are dependent on World markets which are heavily oversold .oversold markets usually bounce back untill its a bear market .

Till then assume its a Bull market and invest with a stop loss