UPDATES FOR VIEWS SUGGESTED IN THE MORNING

buy ICICI BANK 1200 call with a stop loss of 43 for target of 53
call given at Rs.44        LTP Rs. 48.75       call open

Buy DLF fut at 181 SL 177 Tgt 190

call open

Buy nifty future at 6530 SL 6510

part profits booked at 6553   a gain of 23 points

Profits booked in Asian Paints at 493.50 for buy call given on 10thMarch at Rs. 485

gain of Rs. 8.5

HIGH RISK holding buy Tech Mahindra at 1780 SL 1740 tgt 1900booked profits at 1801 gain of Rs. 21 buy bhel above 189 SL 187 tgt 193 call not initiated yet buy WIPRO at 560 SL 555 TGT 570

booked profits at 568.40 a gain of Rs. 8.40

buy cairn india above 330 SL328 TGT 340 Call not initiated as day high for cairn India was 330.30

NIFTY VIEWS

Nifty is range bound for last three sessions. Low of 6487 was made today and on the 10th. As mentioned in yesterdays evening updates we believe the immediate support for the nifty comes at 6480 and 6480 has held on today. Nifty may give a breakout on either side or may even continue this sideways movement. But the down fall may not be severe as both the Bank Nifty and CNX IT have support levels near to their present closing levels. 

BANK NIFTY

We have been suggesting for the last three days that 12250 is a important resistance level for bank nifty. Below 11800 happens to be the support level. The Bank nifty has been taking support at psychologically important level of 12000 for last two sessions. And we think that bank nifty may soon give a breakout on the upside and cross 12250-12300 levels where fresh positions can be added.

CNX IT

CNX IT is at a very crucial point is what we believe. Although the index has stopped falling for last two sessions falling RSI is a cause of concern. This looks like a repeat of "1" marked in the charts. Support for CNX IT comes in at 9650-9600.