Weekly NewsLetter ( 08-November-2010)

Weekly News Letter for week starting from 08-November-2010 ( by NiftyLiveCharts Team )

Markets has given fantastic breakout in last week, which was a good week for every investor , knows as muhurat week ( diwali Muhurat week). Well this bull run was due after the four week negative closing of nifty on weekly charts. We have been continuously telling our readers that the markets are in bull run and any shorts should be avoided. Dips should be used as great opportunity to buy.  Same was seen on the charts too Nifty made a low of 5937 on last Friday and on this Friday on Muhurat trading made a high of 6338, Giving a swing of 401 Points in 1 week.
Stock specific buying is seen on the following FNO Stocks.

DISHTV    25% UP
GMDCLTD    25% UP
CHAMBLFERT    17% UP
GESHIP    16.75% UP
MLL    12.7% UP

The buying done by FII in last few months helped this up move in the market.

Nifty  6312
Trend = BULL
Trend reverse = Below 6104 ( Trend will be Bear below this )

Support1 = 6151 Resistance1 = 6405
Support2 = 5990 Resistance2 = 6498
Support3 = 5897 Resistance3 = 6659

Bank Nifty 13,268
Trend = BULL
Trend reverse =  Below 12562 ( Trend will be Bear below this )

Support1 = 12734     Resistance1 = 13552
Support2 = 12200     Resistance2 = 13836
Support3 = 11916     Resistance3 = 14370

Strong FNO Shares
DISHTV
GMDCLTD
CHAMBLFERT
GESHIP
MLL
NAGARFERT
DCHL
RELMEDIA
JPASSOCIAT
UCOBANK


Weak FNO Shares
CIPLA
AREVAT&D
MTNL
HINDPETRO
3IINFOTECH
PIRHEALTH
HAVELLS
HEROHONDA
MARUTI
JISLJALEQS

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