Hello Friends,
Nifty Unable to cross & Close above previous high of 4675 - 4690 & hence profit booking started as updated in our last post on this web.
Nifty hits target of 4488 as Mondays close is 4484.
Technically Nifty can test important support of 4444 / 4411 / 4381 & may bounce from these levels.
Nifty spot Close is about 200 points down from current highs in just 2 days time.
Nifty Futures closes at high premium at 4520 to spot close of 4484.
Nifty Spot resistances 4520 / 4545 / 4585
PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 15 JUNE 2009 :
Fii -412
Dii -589
Fii (derivatives) -412
Index Futures -398
Index Options +130
Stock Futures -141
Stock Options -4
News :
Rail Budget on July 3, 2009 Friday instead of July 1, 2009
Union Budget on July 6, 2009 Monday instead of July 3, 2009
Economic Budget on July 2, 2009.
On July 3, 2009 there is holiday in U.S on account of Independence day so this may be the reason for change in dates for delivering budget.
ATF Prices hiked so Airlines stocks may be under pressure.
Infrastructure stocks may remain under pressure these as there is an NFO going on so History says that when ever such Biggies come out with Sector Specific NFO's correction is bound to happen in such stocks/sectors or markets.
World Markets are under pressure as G20 Members have hinted to get back the amount given as Stimulas.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.alliesfin.blogspot.com/
