Hello,
After flat opening markets traded in very narrow range today & tested higher band resistance of 3140-3160 & some intra day profit booking was seen. In this profit booking Nifty tested supports of 3050 spot levels. Again some value buying or pull back merged from supports & managed to close at 3113 spot.
Nifty Close 3113
Supports : 3080, 3050, 3030
Resistances : 3135, 3160, 3180
For tomorrow markets are likely to test higher levels due to some momemtum buying in last hour of trade. Profit booking is also not ruled out. If we manage to close above 3160 then Nifty can test 3220 - 3250 levels. The likely trading range of Nifty could be 3050 - 3180.
RELIANCE INDUSTRIES UPDATE :
Ril, after it managed to close above 1275 showed a very sharp rise upto 1390 levels which is around 10% return in just a weeks time. What else u want ?
Ril close 1370
Supports : 1350, 1335, 1315
Resistances : 1385, 1399, 1415
For tomorrow Ril is likely to trade in range of 1335 - 1385 & either ways break outs or break downs can make the stock more volatile.
PROVISIONAL CASH FIGURES FOR 06 JANUARY 2009 IN RUPEES CRORES
Fii +374
Dii -12
Fii(derivatives) +385
Please note : NIFTY IS FACING CHANNEL RESISTANCE NEAR 3150-3180 BUT SENSEX HAS CLEARED THIS RESISTANCE ON DAILY CHARTS. SO ONCE NIFTY CROSSES THIS LEVELS & MANAGES TO CLOSE ABOVE THIS THEN WE CAN SEE 3250 - 3350 OR EVEN HIGHER LEVELS. THE TRAIL STOP LOSS FOR LONG POSITIONS IN THIS CHANNEL PATTERN COULD BE CLOSE BELOW 3030 SPOT NIFTY LEVELS.
RUMORS MARKET : Since last many days there are many rumors arising in markets as when markets moves up people say there is FUEL price cut etccc & when markets give up the gains then people say that PM has given ulimatum to PAK & so onnnn.... We would like to tell this peoples that please dont spread such rumors as your decision to spread rumors is very sensitive in current volatility & many people panic & may end up making losses in a day for no reason.
Good day, Happy Trading
Regards,
Allies Financial Services
Website : http://alliesfin.blogspot.com/
Email Group : http://groups.google.com/group/alliesfin
After flat opening markets traded in very narrow range today & tested higher band resistance of 3140-3160 & some intra day profit booking was seen. In this profit booking Nifty tested supports of 3050 spot levels. Again some value buying or pull back merged from supports & managed to close at 3113 spot.
Nifty Close 3113
Supports : 3080, 3050, 3030
Resistances : 3135, 3160, 3180
For tomorrow markets are likely to test higher levels due to some momemtum buying in last hour of trade. Profit booking is also not ruled out. If we manage to close above 3160 then Nifty can test 3220 - 3250 levels. The likely trading range of Nifty could be 3050 - 3180.
RELIANCE INDUSTRIES UPDATE :
Ril, after it managed to close above 1275 showed a very sharp rise upto 1390 levels which is around 10% return in just a weeks time. What else u want ?
Ril close 1370
Supports : 1350, 1335, 1315
Resistances : 1385, 1399, 1415
For tomorrow Ril is likely to trade in range of 1335 - 1385 & either ways break outs or break downs can make the stock more volatile.
PROVISIONAL CASH FIGURES FOR 06 JANUARY 2009 IN RUPEES CRORES
Fii +374
Dii -12
Fii(derivatives) +385
Please note : NIFTY IS FACING CHANNEL RESISTANCE NEAR 3150-3180 BUT SENSEX HAS CLEARED THIS RESISTANCE ON DAILY CHARTS. SO ONCE NIFTY CROSSES THIS LEVELS & MANAGES TO CLOSE ABOVE THIS THEN WE CAN SEE 3250 - 3350 OR EVEN HIGHER LEVELS. THE TRAIL STOP LOSS FOR LONG POSITIONS IN THIS CHANNEL PATTERN COULD BE CLOSE BELOW 3030 SPOT NIFTY LEVELS.
RUMORS MARKET : Since last many days there are many rumors arising in markets as when markets moves up people say there is FUEL price cut etccc & when markets give up the gains then people say that PM has given ulimatum to PAK & so onnnn.... We would like to tell this peoples that please dont spread such rumors as your decision to spread rumors is very sensitive in current volatility & many people panic & may end up making losses in a day for no reason.
Good day, Happy Trading
Regards,
Allies Financial Services
Website : http://alliesfin.blogspot.com/
Email Group : http://groups.google.com/group/alliesfin
