Nifty EOD Charts
NifTiee Intra day levels :
Close 4681
Supports : 4646 / 4616 / 4586
Resistances : 4717 / 4747 / 4777
Since last 2 days Markets are taking a halt around 4700 ahead F&O expiry & today is the expiry day. We see some stock specific Volatility & some rollover index moves. Till yesterday the rollovers have been good & close to 6 month averages, but we need to check out todays EOD figures.
We continue with our previous recomendations that close above 4700 for minimum 2 days will be highly positive for markets in short term & we may soon see then 4800 - 5000 odd levels. In each rally the Leaders & the Laggards changes, this time rally is mainly supported by heavy weights from Auto / I.T sector & Laggards are Banking Stocks & Reliance pack.
We have alerted many times people to dont go short in Bull markets as in Bull markets generally the strategies are Buy on Dips & Sell on Rises but some stubborn people or misguided people do Sell on Dips & Buy on Rises & end up losing hard earned money. Even people who have been in markets since last many years or decades have got some kind of stubborn attitude as they end up having shorts without SL & advise their clients that 1 day markets will come down & we will make good money. This is some kind of thought of School going child that 1 day we will bunk the school & go for movie.... How such experienced people advise such things to their clients ?????
The above extract is based on some of the Responses/Base/Facts of the people we get from round the country in India.
Provisional Fund Flow Figures Rupees Crores for 26 August 2009 :
Fii +379
Dii +129
Fii (derivatives) +435
Index Futures +178
Index Options +131
Stock Futures +20
Stock Options +105
OI 61k Crores only.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
