Nifty & Sensex view towards April settlement

Nifty (5308) is trading near last month settlement close 5296 and this month hasn’t seen any major move High 5399 and low 5160 moving in tight narrow band and result flow has been good, but market has discounted the positive and no major follow up buying is witnessed. Nifty has retracted only 74% of the fall from 5399 to 5160 and with retail participation totally missing Nifty below 5240 would see fresh correction with weak Global market, fresh up-move possible only if Nifty sustains 5340.

Weak Stock based on Derivative-MCLEODRUSSEL, BEL, RENUKA, TECHMAH, PUNJLLYOD, FORTIS, MARUTI, SAIL, JSWSTEEL, EDUCOMP, RELIANCE, BHARTIARTL, ACC, ABNUVO, SIEMENS, HEROHONDA, RANBAXY.

Strong Stock based on Derivative-TITAN, TATACHEM, JPPOWER, LITL, GMRINFRA, RELINFRA, INDIANB, ANDHRABANK and POWERGRID

Above mentioned Derivative Data is just a view based on Derivative data so no advice is given.

Sensex (17690) has closed negative after 5days of positive, this index has been trading in a rising channel and below 17570 the channel will get broken decisively and any close below 17500 with a Gap-Down in Sensex would be negative for markets as recovery has failed.

Thanks to Angela Merkel, nearly everything about the euro zone is different now http://www.marketwatch.com/story/the-euro-zone-no-longer-an-irrevocable-construct-2010-04-27?dist=afterbell  

Standard and Poor's slashed Greek debt to junk status on Tuesday and also downgraded Portugal, as investors worried political pressures could block a multi-billion euro bailout of Greece. http://in.reuters.com/article/businessNews/idINIndia-48041620100427

Government wins parliament vote; reform doubts remain http://in.reuters.com/article/topNews/idINIndia-48036720100427