We are updating this blog after many days, anyways Markets are close to Resistance zone & profit booking was likely to come from Nifty 2810-2825 levels. This levels were updated in morning to members of our free sms group.
The Level 2810-2825 has trendline resistance as shown in charts & also we have Fibo retracement level of 61.8%. So did markets as made high of 2805 in spot Nifty & the Era of profit booking started. On hourly charts markets saw a congestion around 2727 to 2750 of spot Nifty. Any close below this 2727 level can break this trend of short bull run or pull back rally.
Another scenario is if Nifty is able to sustain & close above 2810-2825 then we can see Nifty testing higher levels of 2855 / 2888 / 2929. May be some Global Cues or Local +ve news from RBI can do the same. We are in last & final leg of Time Analysis which we used to discuss last month & wrote many things / scenarios. In this time we just saw a break down from 2666 to 2525 & markets gave sharp pull back from there.
Our Scenario 2 on Time analysis is the same as happening in markets that in this final leg if time passes & markets stay stable ( like not breaking previous low ) then we can see the short term immediate bottom has been made which wil sustain for the next few coming months. Next month markets have lot many holidays in the 1st & 2nd week of April & then we have the Most
Expensive Democratic Elections coming.
NifTiee Intra Day Levels :
Close 2757
Supports : 2725 / 2710 / 2690
Resistances : 2777 / 2810 / 2825
PROVISIONAL FUND FLOW FIGURES RUPEES CRORES FOR 17 MARCH 2009
Fii +415
Dii -153
Fii (derivatives) +951
Index Futures +333
Index Options +693
Stock Futures -109
Stock Options +34
Regards,
Allies Fin Serve
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
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