Nifty Futures 11AM Call
11AM: Nifty Futures opened today at 4960 against its previous close of 4978, and is currently trading at 4942. It has so far recorded a HIGH of 4960 & a LOW of 4932. Asian cues are negative, US futures are in red, and European markets may open in negative today. The trading range for NF today is likely to be 4880-4960.
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Nifty SMS Group Trades
1. Total Trades: 13
2. Winning Trades: 8
3. Losing Trades: 5
4. Points Gained: 227*
5. Points Lost: 118
6. Net Gain: 109
7. Month Target: 200
*includes today's gain of 50 points.
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Market Close Report
3.30PM: Nifty futures closed the day at 4842, down 136 points, after touching a low of 4838 & a high of 4964.
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NIFTY OUTLOOK
After two hours of fake support received by Nifty at its strong support level of 4920, Nifty ultimately succumbed to bear pressure, fell below the support & saw a sell off today, to close the day at 4847, down 124 points. FIIs net sold 548 cr & DIIs net bought 141 cr. As nifty has lost almost 300 points in the last 7 trading days, a minor bounce back is not ruled out for the next 2 days, after which the downward trend is likely to resume.
Nifty levels for 28.10.09 Wednesday are: PIVOT 4882, R1 4935 & R2 5023, S1 4794 & S2 4741.
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