Hello Friends,
NifTiee Intra day levels :
Close 4580
Supports : 4545 / 4525 / 4488
Resistances : 4616 / 4646 / 4676
As expected we saw a smart pull back rally or dead cat bounce from 4400 levels to 4600 levels in just 2days time. In our earlier post we mentioned that fresh buying can come only on close above 4700 levels till that time we may see buying at major supports & selling near major resistances.
The level of 4616 & 4636 are major resistances in the near term as these levels are the double / tripple bottom when markets were at 4680-4700 levels & were trying to close above 4700 levels. Now these supports have now become resistances in the near term & on Friday we saw some profit booking near by these levels only.
We had advised to our sms members to buy near 4400 levels & book some profits near 4600 levels as a gain of only 200 points in Nifty was more then enough in just 2 days time.
Anyways today also we can see the same profit booking happening at higher levels & we may see that our lower supports being tested.
Provisional Fund Flow Figure Rupees Crores for 14 August 2009:
Fii -126
Dii +444
Fii (derivatives) -84
Index Futures -240
Index Options -322
Stock Futures -155
Stock Options -11
Fii OI 53k Crores only.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
Email Group : Groups.Google.Com/Group/AlliesFin
