Thursday, February 12, 2009

Nifty Pivot for 12th Feb09

----S2------------S1-------------Pivot-----------R1------------R2----
2853.70-----2889.70------2913.60------2949.60-----2973.50

Nifty February futures closed at 2,924.70, a 10-point discount to the spot. In F&O segment strong buying in 2,900, 3,000 and 3,100 call options and fresh unwinding in 2,800 call options. This indicates that a section of F&O players expects the Nifty to move above 2,962 and even revisit its recent high of 3,150 in the near future.