Profit with Phoenix as on 24/09/2009

Dear All,

Market expected to open negative today due to the supports of the Global markets. As per yesterdays blog, Nifty(Fut) sustained above 5012 levels and moves up till 5026 levels, if this continues positive markey may be expected for a run way on Nifty(Fut) till 5057/5093 levels. If not Nifty(Fut) may witness a fall till 4934/4876/4823/4785/4773/4712 levels. Yesterdays market opened @ 5019.70 and made a high of 5026.90, but since nifty dint have a gud support on its volume we had to witness a fall till 4951 and the closing we had gud volatile on Nifty. If market sustains above 5030 levels we may expect market to travell till 5073/5099 levels, today for a positive ralley if not if breaks 4923/4870 we shall enter into the correction period of nifty, we may see nifty floating @ 4600/4400 shortly. 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 -81, NASDAQ -14, HANGSEHG -575, NIKKE1 +132, SHANGHAI -38,
STRAITS -18, KOSPI -21, DAX -7, FTSE -3, CAC40 -1.

Todays Nifty(Fut) trading levels:

Base: 4940
Res: 4960/4958/4975/4993
Mid Res: 4950/4959/4966/4984
Supp: 4943/4923/4906/4888
Mid Supp: 4942/4933/4914/4897

Todays Bank Nifty trading levels:

Base: 8396
Res: 8448/8471/8547/8622
Mid Res: 8422/8459/8509/8585
Supp: 8372/8320/8245/8169
Mid Supp: 8384/8346/8283/8207

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.......