Hello Friends,

N i f T i e e Intraday levels :

Close : 5083

Supports : 5050 / 5015 / 4975

Resistances : 5115 / 5151 / 5181

On Thursday Nifty made a new high if 5111 very close to our resistance level of 5115 & managed to close flat after a volatile session.As soon as Indian markets closed world markets started showing their colors & in just 2 trading sessions they were down by 2-5% approx. They took advantage of closure of Indian markets on A/c of Gandhi Jayanti as they know Indian markets are hardcore bull markets & once they are off then can only this selling off advantage can be taken.

Earnings season will start & as told earlier that there would be revision in EPS, this would make the P/E comfortable for Fundamentalist & they would re-rate the stock/sector from overvalued to fairly valued.

Fii’s have been pouring money like if there is no tomorrow & this same situation we have seen before the election time in May 2009. We think the Fii’s understand more better the Fundamental re-rating situation & have been buying stocks after adjust FY11 Earnings estimates.

Provisional Fund Flow Figures Rupees Crores for 01 October 2009

Fii +976
Dii -334
Fii ( derivatives ) +36
Index Futures -553
Index Options +311
Stock Futures +272
Stock Options +5
Fii OI 65k Crores only.




News :

· Heavy to Heavy Rainfall in Mumbai & other parts of Country, sometimes back we feared for Drought now in some areas we fear due to floods.
· Asian markets are trading flat to +ve after –ve opening & also Dow futures are trading +ve.
· SGX Nifty trading –ve by 70-80 points to cover the pain of global markets but we expect recovery from lower levels.
· Telecom co Aircel has tied up with BSNL for Nationwide sharing of Towers, this is the second time that BSNL has entered an agreement to share its Network after Tata Telecom.
· We are entering the Eight month of bull run in markets from March 2009 to October 2009. Number 8 is Fibo level & if markets sustain rally in this month then we can see rally for next 5 months i.e upto end of current financial year else we may see profit booking. Make sure print media may not panic for this.


Good Day

Regards,

Allies Financial Services
Mumbai, India
Website www.AlliesFin.BlogSpot.Com