Hello Friends,
N i f T i e e intraday levels :
Close 5002
Supports 4977 / 4949 / 4919
Resistances 5020 / 5050 / 5080
After RIL bonus announcement people expected the stock to open up by Rs 150-200 only but that was not the same as the stock opened only Rs 100 & the punters silently offloaded the stock while the RIL FAV's Public bought the same at higher levels as if they were not going to get the stock tomorrow. Anyways markets opened higher due to RIL gap up open but did not sustain at higher levels due to selling pressure in Telecom stocks & also in I.T stocks due to $ depreciation, this we are updating since last many days in our articles.
Also Re/$ have come very to achieve 1st TG of 46, Rupee have been appreciated from 48.25 to 46 levels in very short span of time so we expect that it will cool off in near days but again may head towards 44-45 levels. We expected from such Rupee appreciation that Fii may sell some goods in markets, Gold / Silver / Crude will move to higher levels in Dollar $ terms & Indian I.T industry & even Indian exporters will bear some pain & Fortunately the same happened. Gold touching new life time highs, many Indian I.T stocks are bleeding & so on.
Hope readers / visitors to our web www.AlliesFin.BlogSpot.com benefitted from such views & opinions.
Regarding markets we are in a range of 4900 - 5100, untill we break this range we may see volatile moves in this range as we are witnessing since last many days. Also at this levels there is too much pessimism among people due to high levels of markets, higher PE, low EPS, Promoters encashing through QIP / IPO / FCCB & so on. Also many Analyst are not comfortable with the markets for the same reasons, does this mean that People thinking & Analyst thinking is one & the same now ????? This shows that Indian people have become smarter from such of bad experiences & now dont want to repeat the same. This is +ve signs.
Nifty may see fresh buying only on closing above 5100 as mentioned earlier untill then Stock / sector specific moves will help to manage the Indices like when Telecom / I.T stocks bleed yesterday then Banking / Metals / Realestate / Pharma etc managed the indices. Today also same thing may repeat again but sector may change.
Provisional Fund Flow Figures Rupees Crores for 08 October 2009 :
Fii -376
Dii -21
Fii (derivatives) -309 (net)
Index Futures +474
Index Options -1
Stock Futures -789
Stock Options +7
Fii OI 67k Crores only & Mkt Volumes 97k Crores only.
NEWS :
* Infosys results will be out today,
*Inflation at 0.70% v/s 0.83 last week,
* Pipavav shipyard ipo listing today, issue price Rs 58/-, Premium 4-5,
* Tata Motors set to launch Tata Manza before Diwali,
* Gold at life time highs,
*Shangai markets opens +ve after a week of closing,
Regards,
Allies Financial Services
Mumbai, India
Website : http://www.AlliesFin.BlogSpot.Com/
Email Group : http://Groups.Google.Com/group/AlliesFin
