Nifty Futures 11AM Call
11AM...Nifty Futures opened today at 5070 against its previous close of 5039, and is currently trading at 5059. It has so far recorded a HIGH of 5080 & a LOW of 5046. Asian cues are positive, US futures are in green, and European markets may open flat today. Nifty will get into consolidation mode after yesterday's sharp recovery from day's low, trade RANGEBOUND, and close the day with minor gain. Trading range for NF is likely to be 5030-5080 today.
Market Closing Report
3.30PM...Nifty futures closed the day at 4975, down 64 points, after touching a high of 5080 & a low of 4964.
NIFTY OUTLOOK
Nifty again succumbed to heavy selling pressure above 5050 levels today and closed the day at 4985, down 42 points. FIIs net bought 634cr & DIIs net bought 301cr. Nifty may trade above 5000 levels for a few more days on possible positive sentiments created by surprise bonus from RIL on Thursday & equally surprise better than expected Infosys results to be announced on Friday, before restarting its downward journey to test its strong support at 4900 for the third time.
Nifty levels for 08.10.09 Thursday are: PIVOT 5012, R1 5051 & R2 5116, S1 4947 & S2 4908.
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