DAILY REPORT ON NIFTY BY kadiyali - 05.02.10 (Friday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened today gap down at 4731 against it previous close of 4833, and is currently trading at 4722. It has so far recorded a HIGH of 4754 & a LOW of 4714. 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 4680-4760.

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Market Close Report

3.30PM: Nifty futures closed the day at 4703, down 130 points, after touching a low of 4687 & a high of 4754.

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NIFTY OUTLOOK

Nifty had another day of gap down opening, and trades 50 points above & below the opening level, and closed the day at 4718, down 127 points. FIIs net sold 1726cr & DIIs net bought 1169cr. Nifty may trade in a tight range for a week before deciding on its further journey.
Nifty levels for 08.02.10 Monday are: PIVOT 4746, R1 4799 & R2 4880, S1 4665 & S2 4611.