JAI SHRI KRISHNA US MKT CLOSE POSITIVE DOW JONES +46. NASDAQ +18. ASINA MKT MIXED HANG SENG AND NEKKI ARE POSITIVE,,,,,,, NEW FINANCIAL YEAR FROM TODAY,, WISHES FOR PROFITABLE ACCOUNTING YEAR.... WE EXPECT A POSITIVE OPENING BUT, TAKE CARE DONT CARRY LONGS YET.. MKT HAS NOT TAKEN DIRECTION AS YET.. ON TODAY PANIC.. SMALL LOTS BUYING IS A BEST STRATEGY. WATCH THE NIFTY SUPPORT LEVEL... 4643-4601 RUMORS WERE FLYING THAT LEHMAN BROTHERS COULD BE THE NEXT MAJOR WALL STREET FIRM TO FAIL - LARGELY DUE TO DERIVATIVES. NIFTY FUTURE :TODAY SUPPORT 4649....4566 ON PANIC..... EVERY DECLINE VALUATION ARE ATTRACTIVE AND TEMPTING TO BUYING, BUT UNTIL OR UNLESS TECHNICAL CYCLE WILL NOT COMPLETE BEST WAY TO AVOID. MORE SERVER CORRECTION IN COMING DAYS AND WAIT TILL THE BUYING OPPORTUNITY EMERGED. NIFTY: IT WILL FACE RESISTANCE 4795, DOWN SIDE BREAK 4700, DOWN SIDE IT WILL COME DOWN UP TO 4643, 4600. ANY TIME IT WILL U TURN FROM THE LOWER LEVEL. LIC HOUSING FUT :BUY WITH STOP LOSS OF 272 . . . . . TARGET OF 285, 292 . CUMMINS FUT : BUY WITH STOP LOSS OF 306 WITH TARGET OF 327, 336 . . . GE SHIPPING FUT :BUY WITH TARGET OF 387, 396. .KEEP STOP LOSS OF 365. . . . NSE INDEX (C-4734.50) RESISTANCE 4795 4885 5040 NSE INDEX SUPPORT 4645 4550 BSE SENSEX (C-15644.44) RESISTANCE 15815 16060 16475 BSE SENSEX SUPPORT 15395 15145 NIFTY FUTURE (C-4732.30) RESISTANCE 4785 4870 5010 NIFTY FUTURE SUPPORT 4650 4565. SHORT TERM BUY CALLS ALSTOM PROJECTS (C-580.95): BUY AROUND 568 TARGET1-606, ORCHID CHEM (C-161.4): BUY AROUND 157 TARGET1-173, TARGET2-185 SHORT TERM SELL CALLS GRASIM INDS (C-2575.3): LOOKING WEAK: SELL AROUND 2613 TARGET1-2517, HDFC BANK (C-1331.25): LOOKING WEAK: SELL AROUND 1341 TARGET1-1281,