Profit with Phoenix as on 26/05/2010

Dear All,

        Market expected to open positive today due to the supports of the Global market indicates. Now if market takes its position back at 5003 once again, the current technical trend indicates it may run fast on the run way & have its take off soon to reach 5123. There are posibilities that Nifty may be back again to 5054 level by month end if it sustains above 4957 level.
        One of the majour support 5003 has lost its position support, if Nifty(Fut) breaks 4871 and closes week on coming trading secissions we may see 4816/4763/4706 levels. 4645 level shall be the last and strong support for the market as per current technical chart indicates.
        Nifty(Fut) shall be strong above 5087/5123 levels. Close of Nifty(Fut) above 5176 may take Nifty(Fut) to long trend and mark levels at 5223/5273 levels, this may further take Nifty till 5323/5376 levels. Market expected to trade volatile. Lets wait to watch the game of Market.

Todays Nifty(Fut) trading levels:

Base: 4853
Res: 4851/4873/4893/4913
Mid Res: 4852/4862/4883/4903
Supp: 4832/4827/4812/4792
Mid Supp: 4842/4832/4822/4802

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Have a Happy Trade......