RESISTANCE :- 4805.33, 4854.21, 4937.33
SUPPORT :- 4673.33, 4590.21, 4541.33
BREAK - EVEN POINT :- 4722.21
MARKET OUTLOOK :- POSITIVE IF MAINTAINS ABOVE 4722.21.
NIFTY VIEW :-
TODAY WE SAW NIFTY SPOT HAVE BROKEN THE YESTERDAY 52 WEEKS LOW @ 4640.95 AND HAVE MADE THE AGAIN NEW 52 WEEKS LOW @ 4639.10. FINALLY GOT SOME BOUNCE FROM THE LOWER LEVELS AND MADE THE DAYS HIGH @ 4771.10 AND CLOSED @ 4756.45 BUT THIS BOUNCE WAS NEWS BASED BOUNCE BACK AND THE NEWS WAS :- GERMAN BUSINESS CONFIDENCE UNEXPECTEDLY INCREASED. SO NOT LOOKING POSITIVE IN THE NEAR FUTURE.
PORTUGAL DOWNGRADE :-
PORTUGAL’S BONDS FELL, WITH 10-YEAR NOTE YIELD CLIMBING 74 BASIS POINTS TO 12.05 PERCENT AFTER FITCH RATINGS CUT THE NATION’S CREDIT RATING ONE STEP TO BB+, THE HIGHEST JUNK STATUS, WITH A NEGATIVE OUTLOOK.
TODAY WHEN NIFTY SPOT HAS MADE A NEW 52 WEEKS LOW @ 4639.10, BUT STILL FIIs HAVE NOT SHORT COVERED IN NIFTY FUTURE, WHILE HAVE SOLD IN CASH SEGMENT ALSO. FIIs SOLD RS. -1639.08 CR HOLDINGS IN CASH SEGMENT WHICH IS THE 2ND HIGHEST SELLING AMOUNT OF THIS YEAR 2011 TIL 24 NOV 2011 IN A DAY, EARLIER FIIs HAD SOLD RS. -2702.20 IN CASH SEGMENT ON 24 FEB 2011. SO FIIs ARE STILL NOT LOOKING POSITIVE.
OVER ALL TREND IS NEGATIVE. SELL ON RISE ONLY.
SUPPORT :- 4673.33, 4590.21, 4541.33
BREAK - EVEN POINT :- 4722.21
MARKET OUTLOOK :- POSITIVE IF MAINTAINS ABOVE 4722.21.
NIFTY VIEW :-
TODAY WE SAW NIFTY SPOT HAVE BROKEN THE YESTERDAY 52 WEEKS LOW @ 4640.95 AND HAVE MADE THE AGAIN NEW 52 WEEKS LOW @ 4639.10. FINALLY GOT SOME BOUNCE FROM THE LOWER LEVELS AND MADE THE DAYS HIGH @ 4771.10 AND CLOSED @ 4756.45 BUT THIS BOUNCE WAS NEWS BASED BOUNCE BACK AND THE NEWS WAS :- GERMAN BUSINESS CONFIDENCE UNEXPECTEDLY INCREASED. SO NOT LOOKING POSITIVE IN THE NEAR FUTURE.
PORTUGAL DOWNGRADE :-
PORTUGAL’S BONDS FELL, WITH 10-YEAR NOTE YIELD CLIMBING 74 BASIS POINTS TO 12.05 PERCENT AFTER FITCH RATINGS CUT THE NATION’S CREDIT RATING ONE STEP TO BB+, THE HIGHEST JUNK STATUS, WITH A NEGATIVE OUTLOOK.
TODAY WHEN NIFTY SPOT HAS MADE A NEW 52 WEEKS LOW @ 4639.10, BUT STILL FIIs HAVE NOT SHORT COVERED IN NIFTY FUTURE, WHILE HAVE SOLD IN CASH SEGMENT ALSO. FIIs SOLD RS. -1639.08 CR HOLDINGS IN CASH SEGMENT WHICH IS THE 2ND HIGHEST SELLING AMOUNT OF THIS YEAR 2011 TIL 24 NOV 2011 IN A DAY, EARLIER FIIs HAD SOLD RS. -2702.20 IN CASH SEGMENT ON 24 FEB 2011. SO FIIs ARE STILL NOT LOOKING POSITIVE.
OVER ALL TREND IS NEGATIVE. SELL ON RISE ONLY.
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