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FOR A CHANGE DOW WAS SUBDUED YESTERDAY AHEAD OF THE BIG POLL AND WAS RANGE BOUND BETWEEN 9255 AND 9410, WITH PLUS AND MINUS OF 85 AND 70 POINTS AND CLOSED ALMOST FLAT AT 9319 LOSING LESS THAN 10 FOR THE DAY ON THIN VOLUMES. THE ISM MANAFACTURING INDEX FOR OCTOBER CONTRACTED TO THE LOWEST LEVEL SINCE 1982 AT 38.9.LOWER THAN THE EXPECTATION OF 41. PROBABLY YOU DONT NEED A SURVEY TO FIND THAT OUT. DOW MAY SHOW SOME STRENGTH ONLY ABOVE 9500 AND ALL THE RECOVERIES IN THE GLOBAL MARKETS FIT IN A PERFECT PULL BACK OF A BEAR MARKET AND WE MAY WAIT TO SEE FROM WHERE AND HOW FAR THEY REVERSE. ASIAN MARKETS ARE GENERALLY IN THE NEGATIVE, EXCEPT FOR NIKKEI WHICH IS POSITIVE BY 345 POINTS AFTER YESTEDAY`S HOLIDAY.

NIFTY FUTURE OPENED HIGHER FOR THE SECOND DAY AT 3018, FELL TO 2953 DURING THE DAY, BUT RECOVRED TO CLOSE NEAR THE DAY`S HIGH AT 3062, GAINING 162 POINTS.

NIFTY FUTURE SUPP LEVELS 2950,2800 RESIST 3055, 3175. NIFTY FUTURE HAS BEEN GAINING IN THE NEW SETTLEMENT, BECAUSE OF OVERSOLD POSITIONS AND SHORT COVERING. HIGHR LEVELS WILL AGAIN ATTRACT SELLING AS GLOBAL PAINS ARE NOT STILL OVER AND WILL CONTINUE FOR SOME MORE TIME. AT BEST , WE CAN EXPECT A RANGE BOUND MARKET WHICH WILL HAVE SELLERS AT HIGHER LEVELS AND VALUE PICKERS AT LOWER LEVELS. HENCE KEEP BOOKING PROFITS AT HIGHER LEVELS TO REENTER AT LOWER LEVELS.

WIPRO SUPP 270,264 RESIST 281,295,304 SELL AT HIGHER LEVELS

HINDALCO SUPP 61,54 RESIST 69,74 SELL AT HIGHER LEVELS

BANKBARODA SUPP 245,239 RESIST 254,262 BUY AT LOWER LEVEL

HINDUNILVR SUPP 225 RESIST 249,254 SELL AT HIGHER LEVEL

HINDPETRO ABOVE 210 TGT 220

INFOSYSTCH BELOW 1340 TGT 1300

ONGC SUPP 687 RESIST 760,774 BUY AT LOWER LEVEL

RELIANCE BUY ABOVE 1480 TGT 1570

SATYAMCOMP SUPP 295, 283 RESIST 311, 322 SELL AT HIGHER LEVEL

SOURCE : LINK

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