Hello Friends,
N i f T i e e intra day levels :
Close 5068
Supports : 5050 / 5025 / 4995
Resistances : 5085 / 5115 / 5151
After many days markets have taken a breather & have closed below 5100 levels. 5111-5151 acting as stiff resistance area as markets are unable to close above these. Also some selling figures are being reported from Fii after many days ?
So is this the warning bell for Bulls or the trend will change & again markets to test New highs ?
Sentimentally many people are away from the markets with lots of Cash in hand & also many analyst are avoiding buying aggressively due to highly overbought positions or High valuations. Last many days it was mainly the Fii who were buying & buying in the markets & driving the markets higher.
Techincally important supports are placed at 16800 & 5000 levels for Sensex & Nifty respectively. Close below this levels for 2 days may buck the uptrend in short term & we may see more selling pressure & fresh short positions build up in markets. Higher side if Nifty closes above 5151 & 17300 then we may see markets making new highs & test 5300/5400 - 17800/18000 on Nifty & Sensex respectively.
Provisional Fund Flow Figures Rupees Crores for 21 October 2009 :
Fii -512
Dii -292
Fii (derivatives) -1141
Index Futures -747
Index Options -302
Stock Futures -74
Stock Options -18
Fii OI 75k Crores only.
NEWS:
* Ril~Rnrl case to have everyday hearing untill they may find some Solution.
* Today Assembly Election Results will be out for Maharahstra, Haryana & Himachal Pradesh.
Regards,
Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
