Profit with Phoenix as on 29/01/2010

Dear All,
Market expected to open negative today due to the supports of the Global market indicates. One of the majour resistance 5147 level which was showing gud strength has broken with volume, if Nifty(Fut) breaks 5070 and closes for next 2-3 trading secissions we may shortly see 4954/4823/4789 once again. Hope we have seen the above said levels till 4848.15 as wednesday's close. Today nifty seem to be strong above 4954/4986 levels. Close of Nifty(Fut) above 5023/5070 may take Nifty(Fut) again back to long trend and mark levels at 5123/5147 levels, this may further take Nifty till 5273/5323/5347 levels. Market expected to trade volatile. Lets wait to watch the game on Nifty.

Global Market Indicates:

DOW -115, NASDAQ -42, HANGSEHG -90, KOSPI -26, NIKKE1 -162,
SHANGHAI +22, STRAITS -10, DAX -102, FTSE -71, CAC40 -71.

Todays Nifty(Fut) trading levels:

Base: 4846
Res: 4870/4868/4890/4912
Mid Res: 4858/4869/4879/4901
Supp: 4848/4824/4802/4780
Mid Supp: 4847/4836/4813/4791

Todays Bank Nifty trading levels:

Base: 8355
Res: 8402/8407/8459/8511
Mid Res: 8378/8404/8433/8485
Supp: 8350/8302/8250/8198
Mid Supp: 8352/8326/8276/8224

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Have a Happy Trade......