AN OPINION ON INDIAN STOCK MARKET - NIFTY INDEX - IT IS MY TECHNICAL ANALYSIS 'DIARY' and not for business promotion
09 October, 2009
8-10-09 trading shows that the positive opening because of Reliance bonus issue and Global cues were not sustained. Nifty closed in green above 5000 but at 5002. FII data sold in cash, sold in stocks futures, bought in index futures. F&O data shows that more put writing and call buy back. Nifty index future o i added further. US markets are green. Global cues are green to weak. Technical indicators are weak. Market is nearing to break the long term support levels. Over all view: As infosys result swings the markets it is expected that the markets may give direction on Monday trading only. Be cautious till then. The rise in the markets will be only after cutting the long term support levels and market may test 4800 levels.
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