DAILY REPORT ON NIFTY BY kadiyali - 18.11.09 (Wednesday)

Nifty Futures 11AM Call

11AM: Nifty Futures opened today at 5042 against its previous close of 5063, and is currently trading at 5077. It has so far recorded a HIGH of 5080, and a LOW of 5035. Asian cues are mixed, US futures are in red, and European markets may open just flat today. The trading range for NF is likely to be 5020-5090 in yet another RANGEBOUND day.

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Market Close Report

3.30PM: Nifty futures closed the day at 5057, down 6 points, after touching a low of 5035 & a high of 5082.

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NIFTY OUTLOOK

Nifty had yet another day of rangebound trading, and closed the day flat for the second day at 5055, down 7 points. FIIs net bought 412cr & DIIs net sold 256cr. Nifty for the last 3 days has been trading very firmly above 5050 giving profit booking opportunities for those who believe in a short term reversal for nifty.
Nifty levels for 19.11.09 Thursday are: PIVOT 5058, R1 5075 & R2 5096, S1 5037 & S2 5021.