MATCH- 22nd JUNE- 2011

[Shah, Vikas (IND Int)]

 

 

Technical Desk | INDIA

OUTLOOK Nifty to consolidate before fresh move …   Yesterday, Nifty opened in green after a deep red close in its previous trading session.  Nifty attempted towards 5350 levels but failed and slipped down below 5300 marks. Finally amid volatility Nifty ended the session marginally in green at 5280 levels. Going ahead we continue to believe that Nifty will find stiff resistance at 5350 & 5450 levels on higher end. At higher levels Nifty is expected to find the selling pressure and thus should be traded with negative bias unless holds above 5450 levels on weekly close. On the downside Nifty has crucial support at 5154 in short-term. Few banking and mid-cap counters are trading in an oversold territory which can attempt for technical pull-back in next few trading sessions. Intermediate trend for the Nifty continues to be down and thus trading levels to watch for the Nifty on higher end will be 5350 & 5450 levels while on lower end will be 5154 & 4880. The weekly levels to watch for the Nifty current week will be 5308/5251 & 5472/5578 levels on lower and higher end respectively.  In intraday trade Nifty future will find support at 5232/5186 levels whereas its resistance will be at around 5348/5417.

 

DISCLAIMER:

Please be advised that effective 1st May 2009 our email ids have changed. Please note the new email ids and update your records accordingly.

*****************************************************************************************************************************************

This email was sent by MF Global Sify Securities India Pvt. Ltd. (MFGSSIPL) / MF Global Capital India Pvt. Ltd. (MFGCapIPL) / MF Global (India) Pvt. Ltd. (MFGIPL) / MF Global Commodities India Pvt. Ltd. (MFGComIPL) / MF Global Centralised Services India Pvt. Ltd. (MFGCSIPL) / MF Global Capital Services India Pvt. Ltd. (MFGCSIPL) / MF Global Middle East DMCC (MFGME) a member of the MF Global (collectively 'MFG'). For more information please visit our website: http://www.mfglobal.in. This message may contain financial product advice. Any such advice does not take into account your particular financial objectives, situation or needs. Opinions, conclusions and other information expressed in this email are not given or endorsed by us unless otherwise indicated.MFG does not warrant the correctness of any information herein or the appropriateness of any transaction. The contents of this electronic communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to sell or a solicitation to buy any futures contract, option, security, commodity, or derivative including foreign exchange. The information is intended solely for the personal and confidential use of the recipient of this electronic communication. If you are not the intended recipient, you are hereby notified that any use, dissemination, distribution or copying of this communication is strictly prohibited and you are requested to return this message to the sender immediately and delete all copies from your system. All electronic communication may be reviewed by authorized personnel and may be provided to regulatory authorities or others with a legal right to access such information. At various times, MFG or its affiliates may have positions in and effect transactions in securities or other financial instruments referred to herein. Opinions expressed herein are statements only of the date indicated and are not given or endorsed by MFG unless otherwise indicated by an authorized representative. Due to the electronic nature of electronic communication, there is a risk that the information contained in this message has been modified. Consequently, MFG cannot guarantee that messages or attachments are virus free, do not contain malicious code or are compatible with your electronic systems and MFG does not accept liability in respect of viruses, malicious code or any related problems that you may experience. Trading in futures, securities, commodities, options or other derivatives, foreign exchange and OTC products entails significant risks, which must be understood prior to trading and may not be appropriate for all investors. Please contact your Relationship Manager for more information on these risks. Past performance of actual trades or strategies cited herein is not necessarily indicative of future performance. Privacy policy available upon request.


GENERAL ADVICE WARNING:

Please note that any advice given by MFG staff is deemed to be GENERAL advice, as the information or advice given does not take into account your particular objectives, financial situation or needs and MFG will not be held responsible for any losses on such advice. Therefore at all times you should consider the appropriateness of the advice before you act further.