Profit with Phoenix as on 05/02/2010

Dear All,
Market expected to open negative today due to the supports of the Global market indicates. One of the majour resistance 4873 level which was showing gud strength has broken with volume, if Nifty(Fut) breaks 4823 and closes for next 2-3 trading secissions we may shortly see 4723/4640/4540 once again. Hope we have seen the above said levels till 4833.60 as on Thursday's close. Today nifty shall be strong above 4806/4854 levels. Close of Nifty(Fut) above 4923/5054 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 -263, NASDAQ -65, HANGSEHG -585, KOSPI -51, NIKKE1 -293,
SHANGHAI -45, STRAITS -57, DAX -138, FTSE -113, CAC40 -104.

Todays Nifty(Fut) trading levels:

Base: 4764
Res: 4770/4778/4792/4806
Mid Res: 4785/4792/4797/4799
Supp: 4792/4750/4736/4722
Mid Supp: 4778/4771/4743/4729

Todays Bank Nifty trading levels:

Base: 8295
Res: 8410/8453/8525/8640
Mid Res: 8356/8413/8468/8583
Supp: 8301/8180/8065/7950
Mid Supp: 8298/8241/8123/8008

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Have a Happy Trade......