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22 June, 2009

19-6-2009 trading shows that markets took support at 4202 range and bounced up to close in green at 4314+62.  FII data, nifty futures shows that the fall may stop here and markets may rise a little bit. Global cues are not supporting fully to a raise. News from Govt is expected for further rise in markets. Option writings are indicating range bound.  All FII shorts were not cleared. Means we may see further fall in this settlement it self. Then markets may close below 4000 for settlement. Steam like earlier bounces is not seen this time.   SGX nifty is negative now.

Over all view: If markets fall first and test 4200 at first instance then we may see a bullish closing for settlement around 4400.  Else if markets face resistance at 4350-4400 and falls then the closing will be around 4100-4000. Take decision by intra day swings. BUT ANYTHING MAY BE POSSIBLE.

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