Market Views for 29 October 2009

Hello Friends,

N i f T i e e intra day levels

Close : 4826

Supports : 4795 / 4777 / 4747

Resistances : 4848 / 4868 / 4888

Yesterday Nifty final support for the day was 4777 & made low of 4784 & bounced back sharply. These range 4747 - 4777 are very important support area in the near & may act as Trend Reversal levels. But if markets close below these then all such views are negated.

Also the Global Markets have started correcting after they saw the fall into Indian markets & most of the world markets are trading around 50 Dma ( 50 Days Moving Average ). Such Averages provides good supports to the markets in near term but the sentiments are -ve so as the fall.

Around 4747-4777 Nifty may be competing around 10% correction from recent top in just few days time. The Corresponding levels in Sensex can be around 16000 levels.

Provisional Fund Flow Figures Rupees Crores for 28 October 2009 :

Fii -724

Dii +896

Fii (derivatives) +373

Index Futures +119

Index Options +190

Stock Futures +62

Stock Options +2

Fii OI 76k Crores only.

Regards,

Allies Financial Services
Mumbai, India
Website : www.AlliesFin.BlogSpot.Com
Email Group : Groups.Google.Com/group/AlliesFin