NIFTY Opened with a gap up of around 40 points @ 4815. It made a high of 4835, almost around 4850 Area, and sold off towards 4755 level.Nifty closed the day at 4797 Nifty is taking a breather ahead of a move forward.
Nifty found support @ 4750 for now. There is a minor support @ 4700 area which is a Fibonacci levels.
It basically spent the whole day with out any important levels broken.There is a major resistance point @ 4975 - 5000 area. The downside will resume again below 4620 level.
Our view on Nifty futures is Neutral. The Bullish Trend will only emerge above 4850 . On the downside a break below 4600 area will lead the markets towards 4350 Area.
Our closed trades for Today:
HCC - SOLD @ 126.85 ( 05.11.2009 ) - BOUGHT @ 130.30 ( 05.11.2009 ) - LOSS 7245/-
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www.aaksharstock.com/equitycurve.html
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