nifty for friday, 19th oct 2007...

medium term trend is broken by a small margin today by nifty and such a situation is bearish however a couple of closings in the red will confirm this. but bounce on good news is possible.

immediate resistances 5429/5453/5525.
supports 5269/5107/5000/4930/4530

fiis were net sellers in cash again today to the order of Rs.1130 crores and diis bought in very small amounts in cash(provisional figures).

in f&o segment high turnover of Rs.110563.83 crores was recorded. fiis sold net Rs.4221.90 crores. it is known that the fiis have a very large impact upon the direction of indian stock mkts. nifty future traded at a huge 32 point discount to spot adjusted at close and at one time was as high as 151 points, an indication of large amount of shorts being built up in nifty futures.