Nifty [ Spot ] Commentry & Report for 17th May , 2007, ThursDay

F & O UPDATE As on 16th May 2007 ::
Current month futures for NIFTY closed at 4189.05 (Rs. 18.10 PREMIUM) with a turnover of Rs. 9754.93 Crores. Sheds 1873800 shares(-5.65%) in open interest bringing down the open interest to 31269600 shares.
High: 4180.00
Low: 4113.05
LATEST SNAPSHOT 4170.95 [4120.30 +50.65 (+1.23%)]
Nifty[Spot]
:: SMA[7] :4103.60
EMA[ 33.333%] :4094.20
EMA[12] :4103.70
EMA [26 ] : 4044.80

[Nifty Spot ]
::Support ::
4155.00 \ 4144.55 \ 4134.05
Below 4142.50 market Expected To Be – Ve
Go Short Below :: 4142.50
STPL :: 4155.05
Tgt :: 4130.05 \ 4113.05 \ 4097.05
Below :: 4097.05 Free Fall To :: 4079.60

::Resistance ::
4165.55 \ 4176.05 \ 4186.55 \ 4197.00
Above :: 4186.55 market Expected To Be +Ve
Go Long Abobe ::4186.55
STPl :: 4154.90
Tgt :: 4197.00 \ 4209.95 \ 4222.95
Above :: 4209.95 Market Will Be More +ve
And
Don’t Go Short Rather
Go Long @ :: 4209.95
With A STPL :: 4186.55
Tgt :: 4222.95 \ 4233.45 \ 4243.95
Above :: 4243.95Upper Tgt :: 4264.95 +++

[ Stock Watch :: Rajesh Expo , Redington , Baja Auto , TVS Mot , Cinemax , Niit Tech , Rolta]

Have A Nice & Happy Trading Day