Monday, February 22, 2010

DAILY REPORT ON NIFTY BY kadiyali - 22.02.10 (Monday)

Nifty Futures 10.30AM Call

10.30AM: Nifty Futures opened the day gap up at 4905 against its previous close of 4845, and is currently trading at 4900. It has so far recorded a HIGH of 4917 & a LOW of 4896. 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 4890-4940, in a range bound trading.

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Market Close Report

3.30PM: Nifty futures closed the day at 4850, up 5 points, after touching a low of 4849 & a high of 4917.

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NIFTY OUTLOOK

Nifty had a gap up opening, gaining almost 60 points in the opening, but could not hold on to the gains, losing almost the entire gap, before closing the day with a minor gain, at 4856, up 11 points. The last 3 days of the current expiry may produce unexpected short coverings.
Nifty levels for 23.02.10 (Tuesday) are: PIVOT 4871, R1 4897 & R2 4938, S1 4831 & S2 4805.



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