Nifty & Tata Steel Outlook for 6'th Nov 2009 :-

Dear Viewers,

Good Morning & Wish you Happy trading today............

Smart recovery …

Starting the day on a pessimistic note,Nifty plunged sharply in the early part of the day making an intra-day low of around 4600. However it bounced back smartly from those levels to finally close with a handsome gain of 55 points.Volume in Nifty future was significantly higher than the previous trading volumes. 10 lakh shares were added in open interest with an increase in the cost of carry,indicating fresh long built-up. On the option front,implied volatility has once again increased by 150 basis point on account of extremely high intra-day volatility,pointing towards high volatility in the coming days.

Friday is expected to be most interesting day as it is last trading day of week. This week is been more dramatic or explosive from traders. We are having great marry go around of not less then five hundrade points. Big disvenstment desicion of 100 PSU companies came yesterday & market rocks. Huge short Covering Seen .... A great Drama ..... Another interesting day of trade coming up, interesting because yeasterday huge short covering seen in market. last couple of days first on the way down and the second, yesterday on the way up; so, 500 down and then 500 up up & up. Will the Nifty survive its upward journey is a big question for market. The global cues this morning are a bit mixed. US closed in green.

Nifty (November)have turned into a premium of 5.4 points from a discount of 5.60 points and 10.19 lakh shares were added in open interest. Nifty (November)have turned into a premium of 5.4 points from a discount of 5.60 points and 10.19 lakh shares were added in open interest.

Nifty call option added 3.4 lakh shares in open interest,whereas put option added 30.72 lakh shares in open interest. Patni Computer Services (36%),HDIL (34%),NagarjunaConstruction Company (26%),Lupin laboratories (26%)and Andhra Bank (26%)were the top open interest gainers in the market. Asian Paints (-21%),LIC Housing Finance (-18%),Cummins (-16%)and IDBI (-12%)were the top open interest losers in the market.

Tata Steel ADVANCE SCIENTIFIC Chart 6'th Nov 2009 :-

(Forecasting this to happen during the Market Trading Hours)

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bye......