RESISTANCE :- 4850.05, 4887.75, 4921.50
SUPPORT :- 4778.6, 4744.85, 4707.15
BREAK - EVEN POINT :- 4816.30
MARKET OUTLOOK :- POSITIVE IF MAINTAINS ABOVE 4816.30
FIIs HAVE TAKEN CONTINUOUSLY SHORT POSITION IN NIFTY FUTURE FROM 15-NOV-2011 TO 18 NOV 2011 AT NIFTY SPOT LEVELS FROM 5068 - 5030.45 - 4934.75 - 4905.8. AND WHEN NIFTY SPOT IS TRADING AROUND 52 WEEKS LOW, THEN STILL FIIs ARE NOT IN MOOD TO SHORT COVER. FROM LAST TWO TRADING SESSIONS FROM 21 NOV 2011 TO - 22 NOV 2011, FIIs HAVE COVERED THEIR SHORTS IN NIFTY BUT THIS SHORT COVERING IS NOT UP TO THE MARK MEANS TO SAY NOT STRONG TRIGGER FOR UPSIDE IN NIFTY BECAUSE THE SHORT COVERING AMOUNT IS ON 21 NOV 2011 RS. 169.21 CR @ 4778.35 NIFTY SPOT LEVEL AND ON 22 NOV 2011 RS. 108.96 CR @ 4812.35 NIFTY SPOT LEVELS. SO NEED TO BE CAUTIOUS.
SUPPORT :- 4778.6, 4744.85, 4707.15
BREAK - EVEN POINT :- 4816.30
MARKET OUTLOOK :- POSITIVE IF MAINTAINS ABOVE 4816.30
FIIs HAVE TAKEN CONTINUOUSLY SHORT POSITION IN NIFTY FUTURE FROM 15-NOV-2011 TO 18 NOV 2011 AT NIFTY SPOT LEVELS FROM 5068 - 5030.45 - 4934.75 - 4905.8. AND WHEN NIFTY SPOT IS TRADING AROUND 52 WEEKS LOW, THEN STILL FIIs ARE NOT IN MOOD TO SHORT COVER. FROM LAST TWO TRADING SESSIONS FROM 21 NOV 2011 TO - 22 NOV 2011, FIIs HAVE COVERED THEIR SHORTS IN NIFTY BUT THIS SHORT COVERING IS NOT UP TO THE MARK MEANS TO SAY NOT STRONG TRIGGER FOR UPSIDE IN NIFTY BECAUSE THE SHORT COVERING AMOUNT IS ON 21 NOV 2011 RS. 169.21 CR @ 4778.35 NIFTY SPOT LEVEL AND ON 22 NOV 2011 RS. 108.96 CR @ 4812.35 NIFTY SPOT LEVELS. SO NEED TO BE CAUTIOUS.
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