NIFTY MAGIC LEVEL 16.6.10

MAGIC POINTS ARE 5257 and 5198

Resistance and supports are 5277 and 5120

BULLS MANAGE TO CLOSE ABOVE 5222. BUT IS OUR
MARKET IS GOING TO BREAK 5257 IS TO WATCH.
OUR VIEW IS THAT WE ARE AT UPPER END OF THE
4750-5257 RANGE. AND WE HOPE ANOTHER DOWN
WAVE COULD START TODAY OR TOMARROW.

TODAY ALSO BULLS WILL MAKE SOME ATTEMPTS.
BUT BEARS ARE GETTING READY TO EAT OUT
THE UPMOVE FROM 4933 TO 5257

NIFTY TRADING RANGE FOR 16/06/2010
===================================
5111/5155/5177-5244/5266

WE EXPECT POSITIVE UPTO NOON AND
NEGATIVE CLOSING TODAY.

OUT PERFORMERS FOR 16/06/2010
-------------------------------
PHARMA AND REALITY

UNDER PERFORMERS FOR 16/06/2010
--------------------------------
TELECOM AND MIDCAP STOCKS.

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