Profit with Phoenix as on 16/09/2009

Dear All,

Market expected to open positive today due to the supports of the Global markets. As per yesterdays blog, Nifty(Fut) sustained above 4823 levels and moves up till 4908.90 levels, if this continues positive markey may be expected for a run way on Nifty(Fut) till 4923/4957 levels. If not Nifty(Fut) may witness a fall till 4823/4785/4712/4657/4600 levels. Yesterdays market opened @ 4846.10 and made a high of 4908.90, but it was not able to sustain there above 4900 levels, we had a choppy market but at closing we had gud volatile on Nifty. If market sustains above 4853/4897 levels we may expect market to travell till 4957 levels today for a positive ralley. Lets wait to watch the game on Nifty.

Note: This level where Nifty sustains @ 4897 & Sensex @ 16400 are more crutial, we may sure see a fall from these levels which may be termed as Profit booking levels. I may insist my blog followers to start booking up profits @ these levels on a safe side. Long position traders on Nifty and Stocks may keep 4773 as ur SL.

Global Market Indicates:

DOW +56, NASDAQ +10, HANGSEHG +385, NIKKE1 +152, SHANGHAI -51,
STRAITS +34, KOSPI +36, DAX +8, FTSE +23, CAC40 +21.

Todays Nifty(Fut) trading levels:

Base: 4928
Res: 4926/4953/4978/5004
Mid Res: 4927/4940/4966/4991
Supp: 4901/4902/4877/4851
Mid Supp: 4914/4902/4877/4851

Todays Bank Nifty trading levels:

Base: 8269
Res: 8268/8328/8387/8446
Mid Res: 8268/8298/8357/8416
Supp: 8209/8210/8151/8092
Mid Supp: 8239/8209/8180/8121

Investment call: Buy IDBI @ 104 for a tgt of 110/115 given as on 04/09/2009 tgt achieved today 114.75 day high.

Ur valuable comments & suggestions are welcomed. Interested clients may cal me on 9894523386/9843974524. For news on market levels, market updates & calls you may add urself to my yahoo messenger id vk83_03@yahoo.co.in. U may also reffer this blog to ur friends/relatives if ur satisfied.

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Have a Happy Trade.......