Hello Friends,
Nifty after having a volatile session managed to close above 2920 level which is next immediate level after 2855. Above 2920 the next immediate congestiopn level for Nifty is 2950-2990 & in this range we may see profit booking at higher levels. The same view has been updated to our sms group members by sending sms early morning.
You can also register your self with Indian mobiles to our sms groups on this web only.
Also 2950 levels is 61.8% retracement of current rally from 2662 - 3136. This is Fibo retracement level & strong resistance zone & profit booking may come from this levels. Along with Index many Index based stocks are also close to resistance levels & we may profit booking in such stocks too.
Scenario 2 : If Nifty spot closes above 2990 then again we may see the continuation of Bull phase. So from todays close of 2934 its hardly matter of 50-60 points.
Nifty Intra day Levels :
Close 2934
Supports : 2880 / 2855 / 2825
Resistances : 2950 / 2990 / 3030
PROVISIONAL FUND FLOW FIGURES IN RS CRORES FOR 10 FEB 2009
Fii +369
Dii -117
Fii (derivatives) +118 (net)
Index futures +39
Index options -139
Stock Futures +170
Stock Options +48
Soon Interim Budgets will be announced keeping in Mind the Election & a Feel good scenario may be created. Our Reports say that this year the Elections may be delayed, it may not be in April - May but be in June - July. This is just an view the real facts may be different.
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Email Group : http://Groups.Google.Com/Group/AlliesFin
