27/08/09 - Market cues & calls

Nifty opened positive yesterday and remained range bound through out the day ahead of expiry and closed positive.Government Data on Infrastructure Made a drag in markets in afternoon session and later recovered.FII's again turned net buyers.US house sales data was much better.

INSTITUTIONAL ACTIVITY :: FII ( 379 cr) ::: DII (+129 cr)

Today expiry day trade with caution. Today nifty will set for break out. Again Bearish Divergence spotted in nifty hourly charts,but days near expiry will be operators play so we cant expect technical to work.Nifty likely to expire around 4700.

Positional Picks ::

Ansal Infra
Ashok Leyland
National Alum (NALCO)
Videocon


Happy Trading !!!