Hello Friends,
NifTiee Close 4469
Supports : 4444 / 4404 / 4384
Resistances : 4494 / 4525 / 4545
Markets yesterday managed to close below 4488 levels, A Tug of War was seen between Bulls & Bears around these levels. Last time we hinted that if we close above 4488 for minimum 2 days then markets are headed towards recent high. But the condition is not fulfilled as on Monday it managed to close above 4488 at 4505 but on Tuesday it closed at 4469. Close is nearby to 4488 levels so tomorrows first half hour of trading levels can play important role.
Markets may turn volatile near major resistance zones as Short Sellers everyday come out & start shorting heavily but end of day they are trapped which happened in last many days. They say Markets Overbought etc etc etc , but our Question is that Cant Markets Stay in Overbought zone in few days or months ????? Also one day bears are going to win so that time people must party with them as after so many days they managed to bring markets down.
Provisional Fund Flow Figure in Rupees Crores for 21 July 2009
Fii -251
Dii -7
Fii(derivatives) -514
Index Future +321
Index Options -451
Stock Futures -391
Stock Options +8
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
