Profit with Phoenix as on 16/06/2010

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 5123 once again, the current technical trend indicates it may run fast on the run way & have its take off soon to reach 5273.
        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. 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 5700/5800.
        One of the majour support is 5003, 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. Market expected to trade volatile. Lets wait to watch the game of Market.

Todays Nifty(Fut) trading levels:

Base: 5237
Res: 5241/5248/5259/5270
Mid Res: 5239/5244/5253/5265
Supp: 5230/5225/5214/5203
Mid Supp: 5233/5227/5220/5208

Nifty(Fut) trading levels for the week:

Base: 5017
Res: 5080/5142/5267/5392
Mid Res: 5049/5111/5204/5329
Supp: 4955/4892/4767/4642
Mid Supp: 4986/4924/4829/4704

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Have a Happy Trade......