Profit with Phoenix as on 04/02/2010

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 -26, NASDAQ +0.85, HANGSEHG -214, KOSPI -2, NIKKE1 -60,
SHANGHAI -6, STRAITS -13, DAX -37, FTSE -30, CAC40 -18.

Todays Nifty(Fut) trading levels:

Base: 4910
Res: 4923/4922/4933/4945
Mid Res: 4917/4922/4927/4939
Supp: 4912/4899/4887/4876
Mid Supp: 4911/4905/4893/4881

Todays Bank Nifty trading levels:

Base: 8591
Res: 8620/8626/8662/8697
Mid Res: 8605/8623/8644/8679
Supp: 8584/8555/8520/8485
Mid Supp: 8588/8576/8538/8502

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Have a Happy Trade......