Sunday, 10 July 2011
MARKET UNABLE TO CONTINUE UP MOVE THIS WK. BULLS & BEAR FIGHT FOR WIN BUT NO ONE GET VICTORY. FIRST 3 DAYS MARKET TRADE IN VERY NARROW RANGE ON THURSDAY NIFTY GAIN ALMOST 100 POINTS & LOSE SOME GAIN ON FRIDAY. BUT SHORT TERM TREND ARE STILL UP. FII AGAIN REMAIN NET BUYERS IN ALL SESSION. FII WKLY NET POSITIONAL IN CASH UP 3563.73 CR. VOLUME REMAIN ON LOWER SIDE ON FIRST 3 TRADING SESSION BUT SOME HOW IMPROVE LITTLE BIT IN LAST 2 SESSIONS. MARKET KEEP EYE ON QTRY RESULT WHICH STARTS FROM NEXT WK.
NIFTY FIND RESISTANCE AROUND 200 DMA @ 5742 & AT SAME LEVEL LONG TERM TREND LINE ALSO CAME. FOR FURTHER STRONG UPMOVE NIFTY SHOULD CLOSE ABOVE THIS BOTH LEVEL FOR 3-4 TRADING SESSION ON CLOSING BASIS.
ONLY ABOVE THIS LEVEL NIFTY WILL SEEN 5900-6000 LEVEL. IF NIFTY UNABLE TO TRADE ABOVE THIS THEN NIFTY WILL FIND SUPPORT AROUND 5610-5500-5420.
NIFTY 200 DMA 5742.
NIFTY 7 DEMA 5638
NIFTY 20 DEMA 5558.
STOCK TO WATCH :
RELIANCE SUPPORT 850-835-810. RESISTANCE 875-895-910.
SBIN SUPPORT 2440-2390-2365. RESISTANCE 2515-2575-2650.
LT SUPPORT 1815-1780-1745. RESISTANCE 1870-1921-2010.
TATAMOTORS SUPPORT 1027-1015-990. RESISTANCE 1075-1140-1175.
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