Dear Viewers
Good Morning ...... & Wish you happy trading today......
Global market is trading in red. Yesterday Dow & Nasdaq also closed in negative territory. We might open with Gap down effect. Selling pressure to emerge during trading hours. Nifty may take support 4970, 4950. We updated in our blog on last saturday nifty will start trading below 5000 & their nifty is. Tata Steel will start showing weekness below 545. Banking Stock has been punished a lot in last two days, After weeking a bit it may take breathe today. But result will be same like yesterday. Some upside movement might be seen in PSU refinries.
DERIVATIVE CUES :-
Nifty (December) future has turned into a discount of 1.80 points from a premium of 1.70 points and 1.40 lakh shares. Total open interest in the market was Rs114,975 crore and Rs287 crore were reduced in open interest. Nifty call option added 25.05 lakh shares in open interest, whereas put option shed 8.20 lakh shares in open interest. Nifty PCR (OI) 1.22.
Aggressive Traders can short Relcapital below 827 with target of 812-813 with stop loss of 834. Traders can short Relinfra around 1047-1048 with target of 1027-1033 with stop loss of 1055. Only Aggressive traders shld trade this trade.
Tata Steel ADVANCE SCIENTIFIC Chart 16'th Dec 2009 :-
(Forecasting to happen during Trading Hours)
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