NIFTY today was as boring as the movie Dum maro Dum… “Market mein Kucch Dum nahi tha”… It Closed at 5874 with not much momentum on either side. Intraday players of Index option might have faced difficulty in making Intra-Profit. Nifty is still testing the level of 5937 on the upper side. Today we had the result of Maruti, Sterlite ad Sesa Goa to name few but none had its effect on the market. Daily technical indicators are mixed bags with some showing bearish sign while some bullish but on strong note Weekly and Monthly Indicators are still strong for Bull Run. 50 DEMA has just touched 100 DEMA from below and if it crosses it then you may confirm the bull Run. SBIN and INFOSYS looks good for a weekly purchase. Few of the results to look out tomorrow are ACC, Aventis Pharma, Patni and Wipro. Market seems to be in the Range of 5750-5937 till this expiry.
NIFTY levels for 26th April:
S-5847 R-5907
S-5829 R-5937
S-5800 R-5985
S-5776 R-6015
the market is currently driven by the F&o positions of FIIs....and on a whole they have written 5800 calls and 5800 put so most probably market will expire in this range...like plus minus 25 pts from 5800 bcoz thts where they will earn most profits
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