Profit with Phoenix as on 16/03/2010

Dear All,

Market expected to open flat today due to the supports of the Global market indicates. Nifty(Fut) shall be strong above 5023/5077 levels. Close of Nifty(Fut) above 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. One of the majour resistance 4873 still remains at the same level, if Nifty(Fut) breaks 4823/4763 and closes week for 2-3 trading secissions we may shortly see 4723/4640/4540 once again. Hope we have seen the above said levels till 4833.60 recently. Market expected to trade volatile. Lets wait to watch the game on Nifty.

Global Market Indicates:

DOW +17, NASDAQ -5, HANGSEHG +66, KOSPI +0.98, NIKKE1 +24,
SHANGHAI +8 STRAITS +7, DAX -41, FTSE -31, CAC40 -36.

Todays Nifty(Fut) trading levels:

Base: 5148
Res: 5141/5144/5148/5158
Mid Res: 5145/5143/5146/5153
Supp: 5134/5130/5127/5116
Mid Supp: 5141/5132/5129/5122

Todays Bank Nifty trading levels:

Base: 9087
Res: 9086/9092/9097/9113
Mid Res: 9087/9089/9094/9105
Supp: 9075/9070/9064/9048
Mid Supp: 9081/9073/9067/9056

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Have a Happy Trade......