For 20-09-2010, Monday

The relentless bull run continued last week also and after crossing the magic number 5555.55 during the previous weeks, the index is not looking back. On a weekly note, the first sign of weakness will be below 5740 only and till then, any decline should be a buy with a stoploss of 15 points i.e. 5725. Index not breaching 5740, will propel it above 6000 and above 6030, we are heading for 6158. RSI and Sochastics are continuously in overbought zone and so, longs should be held with caution and positional shorts can be initiated around psychological 6000 level with 6030 as stoploss.

Levels for the day : [Refer trading rules]

NIFTY SPOT 5884.95
SENSEX SPOT 19594.75
BANKNIFTY SPOT 12104.1

NIFTY
Buy Above/SL 5924/19707 Target 5955/19798
SAR/Sell Below 5904/19650 Target
Sell Below/SL----------------Target
SAR/Buy Above--------------Target

BANK NIFTY
Buy Above/SL 12181 Target 12243
SAR/Sell Below 12142 Target
Sell Below/SL --------- Target
SAR/Buy Above--------Target