Intraday News 09-01-2009

NIFTY FUT broken levels below 2817....Next level at 2786..

SBIN Future:- Sell at 1210  stop-loss 1239 target 1183 / 1164 / 1137.....Lot size 138...

*******Inflation data for this week is as follows:                                                                                                        The Inflation figure for this week is 5.91% as compared to 6.38% last week.

Nifty : 

Resistance 2880/2925/2990/3009 

Support 2850/2830/2770 

View: 

On 7th January, We witnessed the biggest corporate fraud of Indian History. 

This resulted in a massive fall in Indian market & hence our warning for a sharp fall of 300-500 in Nifty.

For today the level to watch out for 2830 on downside as strong support (closing basis), if held then we can see some bounce.

If the 2990 on nifty is held on upside relief rally may extend to 3100-3150 max.