Sunday, January 31, 2010

WEEKLY REPORT ON NIFTY BY kadiyali - 30.01.10 (Saturday)

WEEK GONE BY

Nifty continued its negative close for the second week, and closed the week at 4882, down 154 points. The trading range for the week was 4766-5035, with the high of 5035 touching at opening minutes on Monday, and the low of 4766 touching on Friday. FIIs have been net sellers for all the 5 trading days of the week, and this contributed to the continued slide of nifty.


WEEK AHEAD

Nifty will continue its downward bias for the week ahead, and close the week with a negative close.  The trading range is likely to be 4680-4910.


STOCK RECOMMENDATION

Since stock prices are likely to slide in the days to come, I dont recommend any stock for this week. However, the prices of my Multibagger Picks listed in my last weekly report may be watched, and partial buying may be done below the rates mentioned in the report.


OPTION RECOMMENDATION

No option picks for this week, as the options premium are high during the first week.


NIFTY SMS GROUP TRADES - JAN 10


                                                29/01/10         22/01/10

A. Total Trades:                        15                    11  

B. Winning Trades:                  11                      9  

C. Losing Trades:                         4                     2  

D. Points Gained:                     283                193  

E. Points Lost:                              57                  28  

F. Net Gain:                                 226               165  
 

Friday, January 29, 2010

DAILY REPORT ON NIFTY BY kadiyali - 29.01.10 (Friday)

Nifty Futures 10.30AM Call

10.30AM: Nifty futures opened today at 4826 against its previous close of 4872, and is currently trading at 4796. It has so far recorded a HIGH of 4844 & a LOW of 4790. Asian cues are negative, US futures are in red, and European markets may open slighlty in negative today. The trading range for NF today is likely to be 4760-4850.

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Market Close Report

3.30PM: Nifty futures closed the day at 4886, up 14 points, after touching a low of 4757 & a high of 4889.

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NIFTY OUTLOOK

Nifty continued its volatality for the second day, falling 100 points from previous close in the first session, only to recover from the day's low more than 100 points, and closed the day at 4882, up 15 points. FIIs net sold 996cr & DIIs net bought 1011cr. Nifty will resume its slide from next week after aggressive buying by DIIs stalled the fall for last 2 days.
Nifty levels for 01.02.10 Monday are: PIVOT 4847, R1 4928 & R2 4975, S1 4800 & S2 4719.



Thursday, January 28, 2010

DAILY REPORT ON NIFTY BY kadiyali - 28.01.10 (Wednesday)

Nifty Futures 10AM Call

10AM: Nifty Futures opened today at 4902 against its previous close of 4848, and is currently trading at 4901. It has so far recorded a HIGH of 4904 & a LOW of 4881. Asian cues are positive, US futures are in green, and European markets may open in positive today. The trading range for NF today is likely to be 4870-4960.

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Market Close Report

3.30PM: Nifty futures closed the day at 4867, up 19 points, after touching a low of 4823 & a high of 4935.

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NIFTY OUTLOOK

Nifty had a volatile trade today being the last day of Jan expiry, and closed the day at 4867, up 14 points. FIIs net sold 2813cr & DIIs net bought 1980cr. Bears have now tasted blood, and are likely to dominate stock markets worldwide for some more weeks.
Nifty levels for 29.01.10 Friday are: PIVOT 4874, R1 4923 & R2 4979, S1 4818 & S2 4769.



Wednesday, January 27, 2010

DAILY REPORT ON NIFTY BY kadiyali - 27.01.10 (Wednesday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 4933 against its previous close of 5002, and is currently trading at 4946. It has so far recorded a HIGH of 4963 & a LOW of 4925. Asian cues are mixed, US futures are near flat, and European markets may open in negative today. The trading range for NF is likely to be 4920-5010.

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Market Close Report

3.30PM: Nifty futures closed the day at 4835, down 167 points, after touching a low 4832 & a high of 4963.

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NIFTY OUTLOOK

Nifty again nosedived with record volume & closed the day at 4853, down 155 points. FIIs net sold 2212cr & DIIs net bought 1475cr. The liquidity driven 'bear market rally' seems to be over now all over the world.
Nifty levels for 28.01.10 Thursday are: PIVOT 4898, R1 4963 & R2 5074, S1 4788 & S2 4723.

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Monday, January 25, 2010

DAILY REPORT ON NIFTY BY kadiyali - 25.01.10 (Monday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 4996 against its previous close of 5019, and is currently trading at 4988. It has so far recorded a HIGH of 5012 & a LOW of 4976. Asian cues are negative, US futures are in green, and European markets may open in negative today. The trading range for NF today is likely to be 4970-5080.

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Market Close Report

3.30PM: Nifty futures closed the day at 4992, down 27 points, after touching a low of 4976 & a high of 5039.

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NIFTY OUTLOOK

Nifty continued its losing streak for the fifth day today, and closed the day at 5008, down 28 points. FIIs net sold 1002cr & DIIs net bought 716cr. Nifty will have a highly volatile trade for the next 2 trading days, being the last two days of this expiry.
Nifty levels for 27.01.10 Wednesday are: PIVOT 5009, R1 5035 & R2 5061, S1 4982 & S2 4956.




Sunday, January 24, 2010

WEEKLY REPORT ON NIFTY BY kadiyali - 23.01.10 (Saturday)

WEEK GONE BY

As indicated by me in my last weekly report, nifty came out of its 5200-5300 range, and traded in a wide range of  more than 200 points (in fact 338 points), and recorded a negative weekly close. Nifty closed the week at 5036, down 216 points.  The trading range for the week was 4954-5292, with the high of the week of 5292 recorded on Monday, and the low of the week of 4954 on Friday.  Nifty having secured a close above 5200 continuously for 14 trading days since 31.12.09, has now closed below 5100. 


WEEK AHEAD

Having fallen by more than 300 points from its peak of 5310 in a sudden jerk down in just 3 continuous trading days, nifty is likely to show some pull back towards 5100 in the week ahead, but may remain rangebound at 10-20 points below/above 5000-5100 range for the shortened week of only four trading days, and may close the week NEAR FLAT. The trading range for the week is likely to be 4980-5120.

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STOCK RECOMMENDATION

Since further direction of nifty is now dependent on global cues, I dont recommend any stocks for this week. However, the stock prices of my Potential Multibaggers may be constantly watched, and stocks may be bought/added, if any of these shares fall below the price mentioned against them:

1. ARVIND - FV 10 - Below 30.

2. BALAJI TELEFILMS - FV 2 - Below 45.

3. NTPC - FV 10 - Below 200.

4. ATLANTA - FV 10 - Below 120.

5. GARDEN SILK - FV 10 - Below 65.

6. SUN TV - FV 5 - Below 340.

7. AMRUTANJAN - FV 10 - Below 450.

8. EVEREADY IND - FV 5 - Below 60.

9. VADILAL IND - FV 10 - Below 70.

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OPTION RECOMMENDATION

Last week, I had recommended Nifty Put Option 5200PE at 46 with a target of 100-150, and the said option went beyond 200 on Friday.

This week my Options pick is Nifty Call Option 5000CE (cmp 59).

BUY* Nifty Call Option 5000CE (cmp 59) below 40 for a target of 90-120.

*Due to inherent risk involved in Options Trading, options buying may be done only out of trading/investment profits, and not out of capital.

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NIFTY SMS GROUP TRADES - JAN 10

                                              22/01/10       15/01/10

A.  Total Trades:                11                        6

B.  Winning Trades:            9                        5

C.   Losing Trades:               2                         1

D.  Points Gained:            193                     85

E.  Points Lost:                     28                     14

F.  Net Gain:                        165                     85

Friday, January 22, 2010

DAILY REPORT ON NIFTY BY kadiyali - 22.01.10 (Friday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 4990 against its previous close of 5084, and is currently trading at 5007. It has so far recorded a HIGH of 5011 & a LOW of 4946. Asian cues are negative, US futures are just flat, and European markets may open in negative today. The trading range for NF today is likely to be 4940-5090.

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Market Close Report

3.30PM: Nifty futures closed the day at 5014, down 70 points, after touching a low of 4946 & a high of 5074.

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NIFTY OUTLOOK

Nifty more than achieved its downward target of 5030 by touching a low of 4954, but recovered above 5000 quickly, and closed the day at 5036, down 58 points. FIIs net sold 2415cr & DIIs net bought 1954cr. Nifty will now show some pull back slightly above 5100 due to nearness to this month expiry, but may resume the downtrend again if global cues continue to be negative.
Nifty levels for 25.01.10 Monday are: PIVOT 5028, R1 5102 & R2 5168, S1 4962 & S2 4889.



Thursday, January 21, 2010

DAILY REPORT ON NIFTY BY kadiyali - 21.01.10 (Thursday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5192 against its previous close of 5214, and is currently trading at 5199. It has so far recorded a HIGH of 5207 & a LOW of 5186. Asian cues are negative, US futures are in green, and European markets may open slightly in positive today. The trading range for NF today is likely to be 5160-5220.

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Market Close Report

3.30PM: Nifty futures closed the day at 5085, down 129 points, after touching a low of 5072 & a high of 5207.

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NIFTY OUTLOOK

Nifty at last slided down from its 15 days range of 5200-5300, and closed the day with a big fall at 5094, down 128 points. FIIs net sold 854cr & DIIs net bought 231cr. Nifty is right now on its track to achieve its downward target of 5030.
Nifty levels for 22.01.10 Friday are: PIVOT 5133, R1 5181 & R2 5268, S1 5046 & S2 4998.




Wednesday, January 20, 2010

DAILY REPORT ON NIFTY BY kadiyali - 20.01.10 (Wednesday)

Nifty Futures 10.30AM Call

Nifty futures opened today at 5233 against its previous close of 5220, and is currently trading at 5238. It has so far recorded a HIGH of 5247 & a LOW of 5231. Asian cues are mixed, US futures are in red, and European markets may open near flat today. The trading range for NF today is likely to be 5180-5250.

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Market Close Report

3.30PM: Nifty futures closed the day at 5214, down 6 points, after touching a low of 5195 & a high of 5247.

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NIFTY OUTLOOK

Nifty recorded its 14th consecutive day of closing in 5200-5300 range, and closed the day at 5222, down just 4 points. FIIs net sold 271cr & DIIs net bought 344cr. Nifty has been breaching its previous day's low for the last three days.
Nifty levels for 21.01.10 Thursday are: PIVOT 5227, R1 5252 & R2 5282, S1 5196 & S2 5171.





Tuesday, January 19, 2010

DAILY REPORT ON NIFTY BY kadiyali - 19.01.10 (Tuesday)

Nifty Futures 10.30AM Call

Nifty Futures opened today at 5260 against its previous close of 5271, and is currently trading at 5353. It has so far recorded a HIGH of 5274 & a LOW of 5252. Asian cues are mixed, US futures continues to be in green, and European markets may open marginally in negative today. The trading range for NF today is likely to be 5220-5280.

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Market Closer Report

3.30PM: Nifty futures closed the day at 5224, down 47 points, after touching a low of 5212 & a high of 5274.

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NIFTY OUTLOOK

Nifty traded for the biggest intraday difference of the month, and closed the day at 5226, down 49 points. FIIs net sold 361cr & DIIs net bought 22cr. Nifty having closed between 5200-5300 for all the 12 trading days of this month, is now within a striking distance for a fall down from this range, and is now poised for a downward target of 5030 in the remaining 5 trading days before the January Expiry.



Monday, January 18, 2010

DAILY REPORT ON NIFTY BY kadiyali - 18.01.10 (Monday)

Nifty Futures 10.30AM Call

Nifty Futures opened today at 5239 against its previous close of 5254, and is currently trading at 5276. It has so far recorded a HIGH of 5282 & a LOW of 5232. Asian cues are negative, US futures are in green, and European markets may open in positive today. The trading range for NF today is likely to be 5180-5290, with nifty likely to close the day in negative with a loss of minimum 50 points.

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Market Close Report

3.30PM: Nifty futures closed the day at 5269, up 15 points, after touching a low of 5232 & a high of 5290.

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NIFTY OUTLOOK

Nifty continued its 5200-5300 range trade for the 11th trading day of the month, and closed the day at 5275, up 23 points. FIIs net bought 153cr & DIIs net sold 21cr. Lack of retail participation at higher levels may force FIIs/DIIs to turn sellers very shortly.
Nifty levels for 19.01.10 Tuesday are: PIVOT 5265, R1 5302 & R2 5329, S1 5238 & S2 5202.



Sunday, January 17, 2010

WEEKLY REPORT ON NIFTY BY kadiyali - 16.01.10 (Saturday)

WEEK GONE BY

As indicated in my last weekly report, Nifty traded RANGEBOUND for the second successive week, but marginally succeeded in avoiding a negative close. Nifty closed the week at 5252, up just 7 points. Against the trading range of 5160-5320 indicated by me in the last weekly report, Nifty traded in the range of 5169-5301, with the week's high of 5301 recorded on Tuesday, and the low of the week of 5169 on Wednesday. Nifty having secured its highest close of 2009 at 5201 on the last day of 2009, has now secured a close above 5200 for all the first 10 trading days of the new year.


WEEK AHEAD

Having marginally succeeded to avoid a negative close for this week by just 7 points, Nifty is now poised to record a weekly negative close for the week ahead. It will also come out of the rangebound trade displayed for the last 2 weeks, and will trade in a range of more than 200 points. The trading range for the week is likely to be 5030-5260.


STOCK RECOMMENDATION

My stock pick for the week is VADILAL INDUSTRIES (cmp 93) as a Potential Multibagger.

VADILAL INDUSTRIES (cmp 93) - FV 10 - Equity 7.19cr - Lifetime High 101 - 52 Weeks High 99 - 52 Weeks Low 23. The company has been gradually expanding its market for Ice Cream & Diary Products with a steady CAPEX every year. With the per capital consumption of these products poised to rise in the days to come in our country, giving this company a regular growth, VADILAL will  be a multibagger in 2-3 years. Starting from current financial year, the company is likely to earn N/P exceeding Equity in the first quarter (April-June) of every financial year, and N/P almost equal to Euity for the remaining 3 quarters of the year, giving the company an EPS of more than 20.

BUY this stock below 85 for a Multibagger Opportunity.


OPTION RECOMMENDATION

My option recommendation for the week ahead is NIFTY PUT 5200PE (cmp 46). BUY this option at/around CMP for a target of 100-150.

In view of the inherent risk involved in Options Trading, buying of options may be done only out of trading/investment profits & not out of capital.


NIFTY SMS GROUP TRADES - JAN 10

A. Total Trades:                   6

B.  Winning Trades:            5

C.  Losing Trades:                1

D.  Points Gained:              85

E.  Points Lost:                    14

F.  Net Gain:                         71

Friday, January 15, 2010

DAILY REPORT ON NIFTY BY kadiyali - 15.01.10 (Friday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5268 against its previous close of 5261, and is currently trading at 5257. It has so far recorded a HIGH of 5271 & a LOW of 5251. Asian cues are mixed, US futures are in red, and European markets may open just flat today. The trading range for NF today is likely to be 5210-5280.

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Market Close Report

3.30PM: Nifty futures closed the day at 5253, down 8 points, after touching a low of 5245 & a high of 5272.

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NIFTY OUTLOOK

Nifty remained rangebound thoroughout the day today to close the day in the range of 5200-5300 for the eleventh successive trading day, at 5252, down just 8 points. FIIs net sold 930cr for their 4th successive day of net selling, and DIIs net bought 680cr. Having secured its highest close of the year 2009 at 5201 on the last trading day of 2009, Nifty has now closed above 5200 for the first 10 trading days of the new year.
Nifty levels for 18.01.10 Monday are: PIVOT 5258, R1 5274 & R2 5295, S1 5237 & S2 5221.


Thursday, January 14, 2010

DAILY REPORT ON NIFTY BY kadiyali - 14.01.10 (Thursday)

HAPPY MAKARA SANKRANTHI & PONGAL TO ALL MEMBERS/VISITORS OF ALL 3 BLOGS.
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Nifty Futures 10.30AM Call
10.30AM: Nifty futures opened today at 5260 against its previous close of 5243, and is currently trading at 5270. It has so far recorded a HIGH of 5275 & a LOW of 5250. Asian cues are positive, US futures are in green, and European markets may open with a gain of atleast 0.60%. The trading range for NF today is likely to be 5230-5290, with nifty remaining locked in a tight range for full 5 hours of trading, and losing all its gains of the day towards the end, and closing the day near flat.
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Market Close Report

3.30PM: Nifty futures closed the day at 5259, up 16 points, after touching a low of 5244 & a high of 5275.

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NIFTY OUTLOOK

Aided by positive global cues, nifty posted a positive close for the second day, and closed the day at 5260, up 26 points. FIIs net sold 312cr & DIIs net bought 529cr. Today's trade too points to the existence of high supply zone above 5270 for nifty.
Nifty levels for 15.01.10 Friday are: PIVOT 5255, R1 5277 & R2 5295, S1 5237 & S2 5215.



Wednesday, January 13, 2010

DAILY REPORT ON NIFTY BY kadiyali - 13.01.10 (Wednesday)

Nifty Futures 10.30AM Call

Nifty futures opened today at 5183 against its previous close of 5208, and is currently trading at 5213. It has so far recorded a HIGH of 5221 & a LOW of 5180. Asian cues are negative, US futures are in green, and European markets may open slightly in positive today. The trading range for NF today is likely to be 5180-5250. 

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Market Close Report

3.30PM: Nifty futures closed the day at 5243, up 35 points, after touching a low of 5176 & a high of 5248.

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NIFTY OUTLOOK

As expected, nifty completed its testing of support at 5160 by sliding to a low of 5169 today, but recovered smartly from that level to close the day at 5234, up 24 points. FIIs net sold 286cr & DIIs net bought 122cr. Nifty may now test its further support level of 5130 next week.
Nifty levels for 14.01.10 Thursday are: PIVOT 5214, R1 5259 & R2 5284, S1 5189 & S2 5144.


Tuesday, January 12, 2010

DAILY REPORT ON NIFTY BY kadiyali - 12.01.10 (Tuesday)

Nifty Futures 10.30AM Call

Nifty Futures opened today at 5260 against its previous close of 5256, and is currently trading at 5243. It has so far recorded a HIGH of 5260 & a LOW of 5226. Asian cues are mixed, US futures are in red, and European markets may open just flat today. The trading range for NF today is likely to be 5190-5270, with the possibility of nifty bouncing back from its lows in the last hour.

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Market Close Report

3.30PM: Nifty futures closed the day at 5208, down 48 points, after touching a low of 5200 & a high of 5285.

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NIFTY OUTLOOK

Nifty continued its tendency to slide from day's high for the 5th day today, and closed the day at 5210, down 39 points. FIIs net sold 363cr & DIIs net bought 455cr. Nifty is facing heavy supply nearer to 5300 level since 6 days, and may test its support of 5160 this week itself.
Nifty levels for 13.01.10 Wednesday are: PIVOT 5237, R1 5274 & R2 5337, S1 5174 & S2 5138.



Monday, January 11, 2010

DAILY REPORT ON NIFTY BY kadiyali - 11.01.10 (Monday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5275 against its previous close of 5249, and is currently trading at 5279. It has so far recorded a HIGH of 5295 & a LOW of 5275. Asian cues are positive, US futures are in green, and European markets may open in positive today. The trading range for NF today is likely to be 5220-5310. Nifty is likely to close the day in negative for the third day.

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Market Close Report

3.30PM: Nifty futures closed the day at 5257, up 8 points, after touching a low of 5248 & a high of 5295.

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NIFTY OUTLOOK

Despite very positive global cues, nifty failed to touch 5300 & closed the day with almost no gains at 5249, up just 4 points. FIIs net bought 3041cr & DIIs too net bought 322cr. Nifty now is likely to slide towards its support zone of 5160 very shortly. 
Nifty levels for 12.01.10 Tuesday are: PIVOT 5255, R1 5282 & R2 5314, S1 5222 & S2 5195.





Sunday, January 10, 2010

WEEKLY REPORT ON NIFTY BY kadiyali - 09.01.10 (Saturday)

WEEK GONE BY

Nifty traded almost RANGEBOUND for all the 5 trading days of the week, and closed the week in positive zone at 5245, up 44 points. It marginally surpassed the 5300 level on 2 days on intraday, but could not secure a close above 5300. The trading range for the week was 5197-5310, with the low of the week of 5197 recorded on Monday, and the high of the week of 5310 touching on Wednesday. 


WEEK AHEAD

Though nifty has been found to face good supply zone on every rise, the expectation of better Q3 results has helped nifty in avoiding any reaonable slide. It may continue its near rangebound trade for the second week during the next 5 trading days, but may close the week in negative zone. The trading range for the week is likely to be 5160-5320.


STOCK RECOMMENDATION

My stock pick for this week is GITANJALI GEMS (cmp 126.10).

Gitanjali Gems - FV 10 - CMP 126.10 - All Time High 480 - 52 weeks High 148 - 52 weeks low 32 - Equity 85cr - Expected EPS for 03/10 is 17+ - One of the very few listed companies with national brands of jewellery.

BUY this stock below 120 for one month target of 160 & one year target of 250. Allot a portion of your investment meant for Gold into this stock, and the stock will outperform gold in one year.

Friday, January 8, 2010

DAILY REPORT ON NIFTY BY kadiyali - 08.01.10 (Friday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5270 against its previous close of 5266, and is currently trading at 5270. It has so far recorded a HIGH of 5276 & a LOW of 5256. Asian cues are positive, US futures are near flat, and European markets may open in positive today. The trading range for NF today is likely to be 5250-5310.

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Market Close Report

3.30PM: Nifty futures closed the day at 5258, down 6 points, after touching a low of 5236 & a high of 5286.

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NIFTY OUTLOOK

Nifty contined to face profit booking at higher levels, and closed the day at 5245, down 18 points. FIIs net bought 69cr & DIIs net bought 183cr. Nifty may make one more attempt to touch 5300 level before falling towards 5160.
Nifty levels for 11.01.10 Monday are: PIVOT 5252, R1 5269 & R2 5294, S1 5227 & S2 5210.





Thursday, January 7, 2010

DAILY REPORT ON NIFTY BY kadiyali - 07.01.10 (Thursday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5293 against its previous close of 5288, and is currently trading at 5276. It has so far recorded a HIGH of 5293 & a LOW of 5270. Asian cues are mixed, US futures are in red, and European markets may open in negative today. The trading range for NF today is likely to be 5240-5300.

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Market Close Report

3.30PM: Nifty futures closed the day at 5259, down 29 points, after touching a low of 5245 & a high of 5293.

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NIFTY OUTLOOK 

Nifty retraced from 5300 level for the second day today, and closed the day in negative at 5263, down 19 points. FIIs net bought 92cr & DIIs net sold 127cr. Nifty has a supply zone around 5300 now, and if it does not surpass this level in one or two days, nifty may test its support level of 5160.
Nifty levels for 08.01.10 Friday are: PIVOT 5270, R1 5295 & R2 5328, S1 5238 & S2 5212.




Wednesday, January 6, 2010

DAILY REPORT ON NIFTY BY kadiyali - 06.01.10 (Wednesday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today at 5303 against its previous close of 5281, and is currently trading at 5274. It has so far recorded a HIGH of 5303 & a LOW of 5270. Asian cues are positive, US futures are in red, and European markets may open just flat today. The trading range for NF today is likely to be 5220-5310. Nifty will trade the major part of the day in negative, and will close the day in negative. 

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Market Close Report

3.30PM: Nifty futures closed the day at 5291, up 10 points, after touching a low of 5266 & a high of 5303.

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NIFTY OUTLOOK

Nifty traded range bound for the 5th day today, and closed the day near flat at 5282, up 3 points. FIIs net bought 660cr & DIIs net sold 286cr. Nifty may remain firmly above 5200 for the next few trading days in view of Q3 results season.
Nifty levels for 07.01.10 Thursday are: PIVOT 5284, R1 5308 & R2 5335, S1 5258 & S2 5233.




Monday, January 4, 2010

DAILY REPORT ON NIFTY BY kadiyali - 04.01.10 (Monday)

Nifty Futures 11AM Call

11AM: Nifty Futures opened today at 5225 against its previous close of 5215, and is currently trading at 5225. It has so far recorded a HIGH of 5235 & a LOW of 5210. Asian cues are positive, US futures are in green, and European markets may open slightly positive today. The trading range for NF today is likely to be 5170-5240.

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Market Close Report

3.30PM: Nifty futures closed the day at 5243, up 28 points, after touching a low of 5210 & a high of 5247.

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NIFTY OUTLOOK

04.01.10: Nifty today consolidated above 5200 for an attempt to break out above 5250, and closed the day at 5232, up 31 points. FIIs net bought 613cr & DIIs net bought 2330cr. Though nifty has been posting higher levels slowly & steadily with the help of FIIs & DIIs, lack of matching retail participation & reduced volumes at higher levels will hinder any rise of nifty above 5250.
Nifty levels for 05.01.10 Tuesday are: PIVOT 5212, R1 5258 & R2 5234, S1 5187 & S2 5141.