Sensex EOD Chart 28 May 2009 :
As updated in our last post on our website www.AlliesFin.BlogSpot.Com that Markets are at crucial Gap support & there are higher chances of Bounce from this levels. The same happened in the last two days & Sensex is up by 800 points only from 13500 to 14300.
Markets are in strong mometum now & can can go even higher if Sensex manages to close above 14444 for target of 14800 & 15300. But do remember that close above 14444 is important for minimum 2 to 3 days. If markets do not sustain higher levels then profit booking can come in many Index & F&O stocks which we asked to buy 2 days back ahead expiry.
NifTiee Intra day levels :
Close : 4337
Supports : 4310 / 4281 / 4242
Resistances : 4370 / 4411 / 4444
Provisional Fund Flow Figure Rs Crores for 28 May 2009
Fii +1860
Dii -451
Fii (derivatives) -730
OI dn from 78k to 48k
Options Exercised 4.6k
Options Assigned 2.6k
Index Futures -813
Index Options +147
Stock Futures -112
Stock Options +48
Crude is rising & is trading around $64 / Bbl, this can be a cause of concern for rising global markets & the media may start panicing due to this factor. Also the Indian Crude basket hits 6 month high of $61 & inflation may start rising soon. People who are Futures players can buy Inflation Futures ( jst a Joke ) @ 0.61% sl 0.10% tg 3 to 4% till year end. If this rises then softening of Interest rates wil not happen & after some time it may lead to hike in Lending & Deposit Rates.
Two days back when markets were around 13600-13700 Idiot Box was having only 1 slide for the day which was of Investment Guru : who expects markets to come down to 10000 - 12000 in short term. But after this the markets rallied, so even the Idiot box does not know whats going to happen in the markets as " THE HISTORY OF MARKETS SHOWS THAT THEY ARE ALWAYS GOING TO SURPRISE YOU IN FUTURE "
So if you watch Idiot Box then sooner or later they will help you to panic & change your Investments or Trading Goals / Rules. So its better to trust your own views for markets by doing regular HomeWorks else Consult an Advisor who can help you in Volatile situations.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
