Hello Readers / Visitors,
As told yesterday markets are likely to move up & the same happened today. After a gap up opening we saw some profit booking but in later half the same turned out to be value buying for the day & we saw a sharp upmove once Nifty crossed 2920 with Volumes.
Also we have written that if Nifty crosses 2950 then it will move into congestion levels of 2950-2990 with high volatility. Day traders who track markets would have seen that once Nifty crossed 2950 it went directly to test resistance level of 2990 & again saw huge profit booking from there & the steep fall was mainly due to large profit booking in Reliance industries as this stock too test upper resistance of 1275 & fell sharply upto support levels of 1225 & managed to closed around 1250 levels.
For Tomorrow Nifty Close : 2979.50
Supports : 2950-2920-2880
Resistances : 2990-3030-3080
Tomorrow if Nifty crosses 2990with volumes then it will test upper resistances as mentioned above & chances are bright that it will test higher levels. Yesterday we Disclosed that Our PREMIUM CLIENTS hold Nifty with trailing stop loss some profits were booked today. The whole day Nifty traded in band of 2880- 2990 a move in 110 points.
RELIANCE INDUSTRIES UPDATE :
Ril today tested imp support of 1225 & bounced back to 1275 levels. So for tommorrow if RIL crosses 1275 with volumes then it may test 1290-1310 levels on higher side.
RIL Close : 1250
Supports : 1225-1210-1190
Resistances : 1275-1290-1310
PROVISIONAL FIGURES FOR 30 DECEMEBER 2008 IN RUPEES CRORES :
Cash Segment:
Fii +215
Inst +376
Derivatives Segment :
Fii +644
Idx Fut +328
Idx opt +226
Stk Fut +37
Stk opt +54
ALSO THERE ARE MANY POSITIVE RUMORS GOING ON MARKETS SINCE LAST MANY DAYS LIKE STIMULAS PACKAGE, RATE CUTS : CRR, SLR , FUEL PRICE CUT, YEAR END NAV BUYING etc etccccc BUT THE SAME IS NOT HAPPENING AS GOVT IS NOT BOUND TO GIVE WHEN PEOPLE EXPECT BUT MAY DELIVER WHEN PEOPLE WILL BE TIRED EXPECTING.
Tommorrow there will be last trading day for CALENDER YEAR 2008, May be this day be profitable for all of you.
GOOD DAY , HAPPY TRADING
Regards,
Allies Financial Services
Website : http://alliesfin.blogspot.com/
Newsletters : http://groups.google.com/group/alliesfin
