Nifty Futures 11AM Call
11AM...Nifty Futures opened today at 4997 against its previous close of 4967, and is currently trading at 5009. It has so far recorded a HIGH of 5019 & a LOW of 4992. Asian cues are positive, US futures are in green, and European markets may open just flat today after yesterday's robust gains. Nifty having opened almost 30 points gap up, will trade today RANGEBOUND due to only 3 days of trade this week, and may close the day with minor gains. Trading range for NF today is likely to be 4970-5030.
Trading Calls
1.45PM...BUY IFCI (cmp 56) for a short term target of 75 by 31.10.09, and a long term target of 100 by 31.07.10.
Market Closing Report
3.30PM...Nifty futures closed the day at 4995, up 28 points, after touching a high of 5019 & a low of 4983.
ANNOUNCEMENT
Since the starting day of this blog, I have been giving my 11AM report on Nifty Futures, first placing the same in my home page in Money Control Message Board (MMB), and then copy pasting the same here. Starting from the 1st of October, I will start giving a MID SESSION CALL also at around 1PM, informing the likely closing level of the Nifty Futures.
NIFTY OUTLOOK
Aided by positive global cues, Nifty today had a gap up opening & traded above 5000 for major portion of the day but in a small range of 30 points, to close at 5007, up 48 points. FIIs net bought 714cr & DIIs net bought 91cr. Nifty will have a rangebound trade throughout this week due to only 3 days of trading, after which bears are likely to gain control.
Nifty levels for 30.09.09 Wednesday are: PIVOT 4995, R1 5032 & R2 5056, S1 4970 & S2 4934.
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