Profit Note: EP-F&O Special package gave profits of Rs.35,950/- on one lot traded per call to all its subscribers on last trading session.

Index saw sharp rebound from 4720 levels and has tested the critical supply area of 5150-5200 during last week of trade, which (5200) was a strong resistance level for Nifty as predicted by EquityPandit. Market saw a sharp downtrend movement exactly as predicted by EquityPandit that Market would see sharp psychological profit booking at these levels. Market finally closed at 5059 levels for Nifty.

What would be Indian Stock Market direction for the next week ?

The short term trend for Nifty is bearish with immediate support at 4940 levels for Nifty, which if breached than market can again see previous lows. The immediate resistance for Nifty would be 5200.

Factors to watch:

FII and DII Activity:

In the month of September 2011 (Till Date), FII has seen buying worth Rs.1998 crores and DII have seen net selling worth Rs.962 crores. So this would be an important data to watch on daily basis for Next week.

 US Data:

US data to be disclosed next week would be: US MBA Mortgage Applications, US Current Account and US Consumer Price Index, which would affect global Stock Markets.

Indian Data:

Inflation and India IIP number and RBI Monetary Policy are going to get disclosed next week, which would affect Indian stock market direction.

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