Profit with Phoenix as on 01/07/2010

Dear All,

      Market expected to open negative today due to the supports of the Global market indicates. Now if market takes its position back at 5223 once again, the current technical trend indicates it may run fast on the run way & have its take off soon to reach 5347/5450.
      Nifty(Fut) shall be strong above 5123/5176 levels. Close of Nifty(Fut) above 5223 may take Nifty(Fut) to long trend and mark levels at 5273, this may further take Nifty till 5323/5376 levels. As per levels of my blog Nifty now is entering into a strong buy zone, if this continues we may sure expect Nifty to make new high this time, this ralley may go till 5500/5700/5800.
      One of the majour support is 5123 now, if Nifty(Fut) breaks 5220 and closes week on coming trading secissions we may see 5003/4920/4842 levels. 4645 level shall be the last and strong support for the market as per current technical chart indicates. Market expected to trade volatile. Lets wait to watch the game of Market.

Todays Nifty(Fut) trading levels:

Base: 5284
Res: 5297/5307/5311/5325
Mid Res: 5295/5302/5304/5318
Supp: 5293/5270/5256/5242
Mid Supp: 5288/5281/5263/5249

Nifty(Fut) trading levels for the week:

Base: 5314
Res: 5335/5387/5460/5533
Mid Res: 5325/5361/5424/5497
Supp: 5262/5214/5168/5095
Mid Supp: 5288/5252/5205/5132

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Have a Happy Trade......