N i f T i e e intra day levels :
Close 4959
Supports 4949 / 4919 / 4888
Resistances 4977 / 4994 / 5020
We continue with the previous recomendations in markets that Nifty must cross & close above 5025-5050 for fresh buying else we may see profit booking from current levels. Also there is fear among people to buy at current levels due to over valued or highly priced stocks & they may be correct too this time as not all the time the Retail people are the Targets to fix the stocks at higher prices. But under such conditions we remember " BE GREEDY WHEN OTHERS ARE FEARFULL ", this quote is mainly for Smart Traders & not Investors.
We see good short term support in markets around 4888-4900 levels & close below this can help markets to test lower levels of 4825-4777. Yesterday smart rally was seen in European markets followed by American markets as in Germany election Poll results show Angela Merkel’s Christian Democrats on track with 33.5% and the Free Democrats at 14.5%. Such news was released late evening as per IST & after that we smart rally rally in those markets.
There are no local -ve news in the markets but as there is Globalisation markets may follow the same. Also on Saturday we saw nos for India's core sector growth at 7.1%, more details is updated in News section below. Nos were impressive & shows some kind of Economical recovery. This are some +ve news for markets in short term.
Fii -38
Dii +227
Fii (derivatives) +990
Index Futures -359
Index Options +1706
Stock Futures -359
Stock Options +2
FII OI 61k Crores only.
* OIL INDIA ipo listing on 30 September 2009 in B group.
Issue Price Rs 1050/- only.
* RIL-RPL merged in ratio 1:16, RPL got delisted on 25 September 2009 as record date is 29 September 2009.
* Working days in this week is only 3. Markets are closed on 2nd October 2009 on A/c of Gandhi Jayanti.
* Coming October 1, 2009 Results season will start & we expect some good results from India Inc's. Due to this there would be re-rating in the stock , upside revision in Earnings & P/E would again come to fair levels from current high peaks which leads to overvaluations. But many of these things have been factored in the current market prices as per analysts.
* The market regulator, SEBI (Securities & Exchange Board of India) has okayed Indiabulls Power's IPO (initial public offering). This subsidiary of IndiaBulls Reality is expected to raise around Rs 2,000 crore.
* India's core sector clocks healthy 7.1% August growth : If growth in the core sector, which comprises of six industries, is anything to go by, India is well on its way to a sustained economic recovery. India’s core sector clocked a healthy growth of 7.1% compared to 2.1% year-on-year (YoY). Growth in the April-August quarter stood at 4.8% compared to the same period last year.
Good Day
Regards,
Allies Financial Services
Mumbai, India
Website : www.alliesfin.blogspot.com
