Profit with Phoenix as on 14/05/2010

Dear All,

        Market expected to open negative 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. 5003 level shall be the last and strong support for the market, once if nifty breaks 5003 we may even expect to reach 4800 as per current chart indicates.
        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: 5172
Res: 5182/5186/5200/5214
Mid Res: 5177/5184/5193/5207
Supp: 5168/5158/5145/5131
Mid Supp: 5170/5168/5152/5138

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Have a Happy Trade......