Profit with Phoenix as on 11/02/2010

Dear All,

Market expected to open positive 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 -20, NASDAQ -3, HANGSEHG +280, KOSPI +21, NIKKE1 +31,
SHANGHAI +4, STRAITS +13, DAX +38, FTSE +20, CAC40 +22.

Todays Nifty(Fut) trading levels:

Base: 4781
Res: 4781/4811/4841/4871
Mid Res: 4781/4796/4826/4856
Supp: 4751/4742/4721/4691
Mid Supp: 4766/4751/4736/4706

Todays Bank Nifty trading levels:

Base: 8334
Res: 8353/8428/8523/8618
Mid Res: 8343/8391/8476/8571
Supp: 8258/8239/8144/8049
Mid Supp: 8296/8248/8191/8096

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Have a Happy Trade......