Nifty 11AM Call
11AM: Nifty opened today in negative with a negative gap of 40 points, but recovered the entire gap in one hour, and is trading now at 4714, up just 3 points. It has so far recorded a HIGH of 4717 & a LOW of 4670. Asian cues are negative, US futures are in green, and European market may open in positive today. Nifty will trade in negative today for the first 2 hours of trade, and will get into positive thereafter, and will close the day in positive in the range of 4740-4760. The trading range for Nifty Futures today is likely to be 4650-4770.
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Nifty SMS Group Trades
1. Total Trades: 2
2. Winning Trades: 1
3. Losing Trades: 1
4. Points Gained: 33*
5. Points Lost: 29*
6. Net Gain: 4
7. Month Target: 400
* includes gain of 33 points & loss of 29 points in 2 trades today.
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Market Close Report
3.30PM: Nifty closed the day at 4564, down 148 points, after touching a low of 4538 & a high of 4729. Nifty futures closed the day at 4536, down 171 points, after touching a low of 4531 & a high of 4734.
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NIFTY OUTLOOK
Nifty saw a total sell off today due to continuing bear hammering, fell almost 200 points from day's high, and closed the day in negative for the 6th consecutive days, at 4564, down 147 points. FIIs net sold 874cr & DIIs net bought 752cr. By closing below 4600 today, nifty completed its downward target of 4600 given by me last week, and is now on its way to its next target of 4200.
Nifty levels for 04.11.09 Wednesday are: PIVOT 4611, R1 4683 & R2 4802, S1 4491 & S2 4419.
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