Profit with Phoenix as on 18/12/2009

Dear All,

Market expected to open negative today due to the supports of the Global market indicates. Hope one of the majour supports of Nifty(Fut) 4554 still remains the same, Support continues to be at these levels 4597/4545/4512. One of the majour resistance 5054/5080 level which was showing low strength now may take Nifty(Fut) again to 4873 levels shortely. Cut down of 4986 today shall make Nifty witness some fall from there, Close of Nifty(Fut) above 5146/5172 may take Nifty(Fut) again back to long trend. Market expected to trade volatile. Lets wait to watch the game on Nifty.

Global Market Indicates:

DOW -11, NASDAQ +5, HANGSEHG -264, KOSPI -16, NIKKE1 -13,
SHANGHAI -76, STRAITS -0.6, DAX -41, FTSE -49, CAC40 -28.

Todays Nifty(Fut) trading levels:

Base: 5025
Res: 5034/5039/5052/5066
Mid Res: 5029/5036/5045/5059
Supp: 5020/5011/4997/4983
Mid Supp: 5022/5015/5004/4990

Todays Bank Nifty trading levels:

Base: 8676
Res: 8704/8702/8728/8754
Mid Res: 8690/8703/8715/8741
Supp: 8678/8650/8624/8598
Mid Supp: 8677/8664/8637/8611

Change in market timing

Based on the market feedback, it has been jointly decided by NSE & BSE that the revision of market open timing to 9 a.m. shall be effective from January 4, 2010. In the interim, the current market open timing of 9.55 a.m. shall continue.

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Have a Happy Trade......