Tuesday, November 29, 2011

EOD Analysis For 29th November and Outlook For 30th November

Pretty dull day on Nifty with lower volumes as usual; not very surprising to see marginal profit booking after such a strong pull-back yesterday itself. European bourses also are showing strong pull-backs [DAX well above 5700 and futures trading at a premium; Stoxx 50 registering a record 5%+ intra-day gain last evening after a very long time and likewise for FTSE] Euro-Dollar still lower but does seem to be having too much impact on punters;

Back to Nifty, markets are not out of woods but if global cues are positive and Rollar eases a bit, the potential of retesting 4911-4944-4994 is open; sustained volume and momentum below 4780 opens up a potential retest of 4700-4720 levels . Critical levels remain unchanged. Keep an eye on VIX as it seemed to spike a shade more than anticipated in a a range-bound session.

1 comment:

Rajesh K said...

Thanks for doing this. Very much appreciated.