Hello Friends,
NifTiee intra day levels :
Close : 4819
Supports : 4777 / 4747 / 4717
Resistances : 4848 / 4888 / 4919
Yesterday as told that 4888 is the key level & if sustains then we may see good short covering in the markets but the level was just tested as Nifty made high of 4889 just 1 point above the key resistance area & intra day profit booking was seen. Was it intra day profit booking or gap filling ??? as markets opened gap up yesterday & to fill the gap is +ve sign on charts as per Gap theory.
Today again we may see some +ve opening in the markets backed by global cues as U.S markets closed on years high & also Asian markets are trading flat to +ve. We continue with the same views as we discussed yesterday that above 4888 good short covering & we may see 4919 / 4949 soon. The views is valid only if 4888 sustains with good volumes.
Inflation nos were out yesterday at -0.12% v/s -0.21% very close of being +ve as per our estimate.
One thing to notice is that 2 days back Sensex closed at 16016 & yesterday it closed at 16216, now what next 16516 or 16616 or 16916 what ever may be the figure as its just magical. Try to book some profits at higher levels as at higher levels greed rises along with Volatility. We would like to make views clear that " Profit booking is an Art & not Crime " , this does not mean that we are advising for Short Selling as Profit Booking & Short Selling are completely different concepts.
Provisional Fund Flow Figures Rupees Crores for 10 Sept 2009 :
Fii +468
Dii -124
Fii(deri)+1071
Index Futures +496
Index Options +379
Stock Futures +209
Stock Options -13
OI 67k Crores only
The initial public offering (IPO) of Oil India (OIL), the second largest oil and gas company in India, has received remarkable response from investors, especially QIB (qualified institutional investors).
It has been subscribed 30.81 times so far and has received bids for 81.5 crore shares as against issue size, as per the data available on the NSE website. QIBs' reserved portion got subscribed 54 times followed by non-institutional and retail investors; their portion subscribed 10 times and 1.8 times, respectively. The issue received more than 2.10 lakh applications.
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Email Group : http://Groups.Google.Com/Group/AlliesFin
