Market View For 1st June 2009

Hello Friends,

Nifty EOD Charts 29.05.09



In our last post we have updated that if sensex manages to sustain & close above 14444 then we could see 14800 & 15300 levels soon. On last Friday Sensex manages to test highs of 14727 & was very close to achieve 1st target of 14800.

Updated above is the Spot Nifty EOD (End of Day) Charts which shows Bull's are having upper hands. After testing lows of 4099 markets are zooming one way up from 4092 to 4488 in just 3 trading sessions. The Index Gains are almost 10% in span of 3 days time & this we have alerted to our Sms/Email members on time. What Else you Expect from Equity Markets in Short Term ? Indices up 10% Index Stocks up 5-15% , if you are in Right Boat you could make unexpected gains in the short run.


Nifty have managed to close near our resistance level of 4444 after testing highs of 4488. Also Nifty is very close to test recent highs of 4510 which was tested after Election results. This could prove an immediate resistance level in short term. Close above this can take Nifty to test 4545 & 4646.

NifTiee Intra Levels

Close : 4449
Supports : 4444 /4414 /4374
Resistances : 4488 /4515 /4545


NEWS Last Week :


* Racism in Australia targeting Indian Students. HarBhajan Singh's Cousin Killed.
*Divestment's Bubble heating up
*Oil Fuel Price Decontroling helped OM's to gain in short term.
*Once Cabinet Portfolio will be allocated responding sectors will be in momemtum like in last week there were O&G Cos.
*Ril have more then expected Gas in KG Basin
*Inflation Remained unchanged at 0.61%
*Q4 GDP at 5.8% V/S 5.3% (QoQ) & 8.8% (YoY)
*FY09 GDP at 6.7% V/S 7.1% projected.
*Soon Monsoon Season Kick Off & Media may not Panic due to this as MET Dept said it may be Normal.
*LOT Size changed inviting Retailers to come & see the Horror Show of Playing open Derivatives. Last time in March 2009 lot size hiked & Market Started it Run again & up Almost 80-90% from March Lows. This TIME there is Reduction so LETS SEE WHAT HAPPENS !!!!!


Provisional Fund Flow Figures Rupees Crores for 29 May 2009 :

Fii +273

Dii +873

Fii (Derivatives ) + 740 (Net)

Index Futures +830

Index Options +443

Stock Futures -504

Stock Options -2

This Figures are for reference only & do not rely on this Fii as this numbers may be misleading too. Many times people think that FII's are buying so markets will go up & if FII's are selling markets will go down but real thing is if they only have Money Power which is Readily Available in Foreign Countries. If they would have good strategies then they would have not applied for Chapter 11 Bankruptcy. They have this facility to go Bankrupt & once again start Business with New Money after 2 to 3 years but what if you loose money, You have no other option to come to roads & Beg. So Always do your own Studies to Enter & Exit Markets.


When Markets were falling people poured lot of Money into Fixed Deposits with 10 - 11% Gains & were Happy with such Gains & Today in Markets Indices Gains up by 10-20% in short term like 1-3 months still people do not like book profits & take away gains due to Greed. Why Such Mistakes are Being done ? Book your profits & take away to home & wait for another opportunities as markets gives opportunities all the time. We are repeating this & you may find such Alert in many of our previous posts too. We are repeating this again for the New Visitors / Friends to our website.

Good Day


Regards,

Allies Financial Services
Mumbai, India

Website : http://www.AlliesFin.BlogSpot.Com/