Profit with Phoenix as on 10/05/2010

Dear All,

        Market expected to open positive today due to the supports of the Global market indicates. One of the majour support 5003 still remains at the same level, if Nifty(Fut) breaks 5223/5176 and closes week for 2-3 trading secissions we may see 5123/5054/5023 levels. As per written Nifty seems to be week since 3-4 days. This indicated that market may further fall, i expect nifty to reach 5003 shortly.
        Nifty(Fut) shall be strong above 5245/5273 levels. Close of Nifty(Fut) above 5297 may take Nifty(Fut) to long trend and mark levels at 5323/5347 levels, this may further take Nifty till 5376/5398/5420 levels. Market expected to trade volatile. Lets wait to watch the game of Market.

Todays Nifty(Fut) trading levels:

Base: 5075
Res: 5071/5123/5171/5219
Mid Res: 5073/5097/5147/5195
Supp: 5023/5027/4979/4931
Mid Supp: 5049/5025/5003/4931

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Have a Happy Trade......