29-7-2009 penultimate day of settlement met with huge swing to down side over 150 points and a good recovery. Nifty closed at 4514-51 points.
FII data (over 25 lakhs nifty selling means - ve.), F&O nifty future addition(read with FII data means - ve.), option writings (more put writings means +ve.). Global cues are resisting to negativity (How much time?). SGX nifty -ve. Technical indicators are just turned to downward.
Over all view: Today is settlement day. Now that markets yielded to the resistance faced for 4 days. Is it just for settlement or for further fall? That is to be assessed on Friday's trading. Support levels are at nifty 4250 zone and bullishness is good only after nifty crossing 4600 level. In between it is only for intra day. But beware of shorts by FIIs which may lead to further fall. Will the Shanghai Composite jerk on yesterday be a trigger for a major fall in all international exchanges or a scattered one.
Alert: downward bias for the two days please.
FII data (over 25 lakhs nifty selling means - ve.), F&O nifty future addition(read with FII data means - ve.), option writings (more put writings means +ve.). Global cues are resisting to negativity (How much time?). SGX nifty -ve. Technical indicators are just turned to downward.
Over all view: Today is settlement day. Now that markets yielded to the resistance faced for 4 days. Is it just for settlement or for further fall? That is to be assessed on Friday's trading. Support levels are at nifty 4250 zone and bullishness is good only after nifty crossing 4600 level. In between it is only for intra day. But beware of shorts by FIIs which may lead to further fall. Will the Shanghai Composite jerk on yesterday be a trigger for a major fall in all international exchanges or a scattered one.
Alert: downward bias for the two days please.
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