CNX IT lost 1.

54% and
CNX MIDCAP lost 1.25%.
With todays loss, the
Markets have shed
391.60 points or 7.86% in
nine sessions.

Total traded volumes
again crossed 1-lakh
crore mark and stood at
Rs. 1,43,605.92 Crores.

On the Derivative front,
massive rollover activities
were seen in both Stock
and NIFTY Futures. Both
completed rollovers of
over 63%.
The expectation of revival
in the Markets were nulli-
fied again as the Marekts,
after attempting recovery
as always, pared its gains
heavily in the last half hour
of the trade.

The Markets opened on a
negative note and traded
in the 20-30 point odd
range on the lower side.
However, in the mid ses-
sion, the Markets saw a
sudden spurt and wiped
out almost all of its
losses. Again, just when it
seemed that the Marekts
are in for a recovery after
being on losing streak for
several days, the Marekts
came down heavily and
violently in the last half
hour of the trade. This
was mainly attributed to
the rollover centric activ-
ity as today was the ex-
piry day of the October
Series. It finally end the
day at 4750.55, posting
yet another loss of 75.60
poi nt s or 1. 57%.
BANKNIFTY lost 2.22%,
The Market
Market Trend for Today
After disappointing sell-off on
the last day of the expiry of
the October Series, the Mar-
kets have continued its down-
ward trend and in the proc-
ess, have continued to give
the lower top and lower bot-
tom on the Daily High Low
Charts and have closed below
the 50DMA (Daily Moving
Average).

However, looking at the lead
indicators which are nearly
OVERSOLD, there are bright
chances that we may see
some respite from this down
trend that we have been wit-
nessing over previous nine
sessions. This is also to be
strongly supported by strong
global cues which have
emerged after better closing
of US Markets overnight.
Therefore, today, expect the
Markets to open on a de-
cently positive note and trade
positively for the major part
of the day.

For today, the levels of 4800
and 4845 are likely to act as
resistance on the upper side
and the levels of 4730 and
4680 are likely to act as sup-
ports.

The RSI Relative Strength
Index on the Daily Charts is
33.8124 and is rushing to-
wards getting oversold below
30. It does not show any
negative divergence. How-
ever, it has just reached its
lowest value in last 14-
periods which is bearish. The
Daily MACD continues to
trade below its signal line.

As mentioned earlier, the
Markets have closed below its
short term support of 50-DMA
levels of 4825. Thus on the
upper side, this level may act
as resistance. Thus, any tech-
nical pullback that we may see
may find resistance around
these levels. All and all, bright
positive session likely today.
Markets to open on decently
positive note and thus begin
the new series in positive
manner. Stock specific activity
to continue. Selective stock
specific approach should be
adopted in making purchases.
Positive optimism advised
along with caution towards
Close.


Performance Showcase

Profits of Rs. 23,214

booked in STER Fu-
tures Call PER LOT.
Profits of Rs.12,100
PER LOT booked in
KOTAKBANK Futures
Call
Profits of 15050 Booked
in EDUCOMP Futures
PER LOT in one day.
Fresh Profits Rs. 23450
booked in KOTAKBANK
Futures call Per Lot.

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Friday, October 30, 2009
My Mo ne y Pl a nt . c o . i n
Daily Market Trend Guide
_____________________________
Milan Vaishnav
Consulting Technical Analyst
Www.MyMoneyPlant.co.in

+91-98250-16331

milanvaishnav@mymoneyplant.co.in
_____________________________

_____________________

NIFTY 4750.55 (-75.60)
SENSEX: 16052.72(-230.77)
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