EOD Update Nov 1 2010

Wow .... A huge gap up and the Journey continued ... Looks like bulls want to move up ...

But nervous

Looking at today intraday chart after huge Gap up Nifty did manage to touch a major resistance

level . There was lack of follow up buying . May be because of the nervousness of tomorrow

Fed Meeting . At the High of the day there was a profit booking on low volumes and Nifty did

manage to retrace to 6141. Not once twice the level of 6141 was tested where at the end a

decent buying interest was seen ( See the volume at 3.00 -3.20 ).( Look at the ovals market in red ).

For tomorrow 6141 becomes the immediate reference level below which we may visit

6116-6126 region where buying interest may be seen . Below 6110 Straight way Nifty may

try to fill the gap or touch 6080-6067-6043. Watch for volumes at the mentioned levels.

Above today's high a new story may take place till 6197-6224.