Nifty Intraday Technicals Oct `14

The strong trendline made Nifty retreat after it hit a high of 5136 - I had mentioned 2 days back because of the building up steam there was an upside potential of 5130 - As for today the market may start by going up but towards the end of the day we could see some sort of a sell off. - Sell 5000 CE at higher levels -
Reliance Industries declares its results tomorrow and this could be a trend changer if it fails to keep its promises.
Support for Bank Nifty comes in @ 9480 - if it fails to hold this line we could see nifty head towards 5040 and 5000 levels .
Infy could also be losing some steam now so if during the day you feel Nifty may crack this heavy weight could lead the way - so make sure u short this at decent levels or pick up some put options for intra-day profit.


Buy above: 2704   Targets: 2715.65 - 2728.69 - 2741.76 - 2754.87  Stoploss : 2691.01
Sell below: 2691.01   Targets: 2679.4 - 2666.47 - 2653.57 - 2640.71 Stoploss : 2704


Nifty Spot 
Buy  above: 5094.39   Targets: 5109.69 - 5127.57 - 5145.48 - 5163.43 Stoploss : 5076.56
Sell  below: 5076.56   Targets: 5061.29 - 5043.52 - 5025.77 - 5008.06 Stoploss : 5094.39


Intra-day support and resistance 
 RESISTANCE 2 5163.5 
 RESISTANCE 1 5120.7 
 SUPPORT 1  5051.4 
 SUPPORT 2  5024.9