Hello Friends,
As expected Markets were on a Rock n Roll on the day of expiry. Sensex Crosses 10000 mark & Nifty Tests 3100, Sensex managed to close above 10000 while Nifty managed to close at 3082 which was our resistance level for yesterday (3080).
Yesterday in our updates it was clearly written that markets are in highly +ve mood & if sustains above 3030 markets to test 3080 & 3131. If you can yesterdays intra day charts markets for 1 or 2 hours was halted at 3030 & in just 1 hour of trade above 3030 it was a Rocket to test 3100 levels.
Also yesterday it was mentioned that to manage the indices the stocks which have not participated in the rally or has underperformed indices in this short run wil participate & the same happened in the markets. Stocks which we bet on were Bharti Airtel & Lnt & along with this which participated yesterday were Bhel, Sunpharma, Ongc etc... which underperformed or did not participate in this short term bull run.
NifTiee Intra day levels :
Close 3082
Supports : 3050 / 3030 / 2990
Resistances : 3111 / 3131 / 3180
Now this is too late time to create any fresh longs in the markets at this levels. Also revise trailing stop loss for short term long postions to 2929, this was been updated yesterday only. No doubt at higher levels profit booking may come any time so if you are happy with the current gains you are getting then start booking profits with out timing the markets & waitng to sell at the top price. In this markets its practical that no 1 can buy at the bottom price & no 1 can sell the top price so we need to play in between this two.
PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 26 MARCH 2009
Fii +1291
Dii -462
Fii (derivatives) +147
Index Futures +186
Index Options +211
Stock Futures -291
Stock Options +40
Index options Exercised : 2383
Index options Assigned : 1431
Stock Options Exercises : 670
Stock Optons Assigned : 203
** Fii OI has been significantly down from 58k Crores to 40k Crores in just a days times.
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Newsletters : http://Groups.Google.Com/Group/AlliesFin
