Probable Market TODAY (07-Nov)

07-11-2008
GOOD MORNING

AT the point Market as expected is under consolidation phase and will continue for couple of days. Inflation figures are playing flat to negetive role in market sentiments.

Nifty
Prv Close 2892.65
Pivot Point 2920
Supports 2833>2773>2685
Resistance 2980>3068>3128

Sensex
Prv Close 9734.22
Pivot Point 9826
Supports 9543>9352>9069
Resistance 10017>10301>10492

Nifty may try to open red 2%

Volatility Index (VIX) on last closing day = 69.26 (+ 3.76%) [Highest ever volatility]

ADVISE TO TRADERS AND INTRADAY - after low open market is expected to try to go up for 20 mins then slip and wil try again to go up , this phase is expected to continue upto 11.45 hrs then the market is expected to cool down and profit booking for balance of day.

ADVISE TO INVESTOR COMMUNITY - Stay hedged, no buy no sell now.

Quote: The one thing that hurts more than having to pay income tax is not having to pay income tax. - Thomas Duwar

Disclaimer : "above is my personal observation, may not match with market trends, posted for information purpose only, Please consult your finance advisor before entering any investment / trading descision"