End of day summary and outlook for 27Nov06

Even though the NSE Nifty moved within a range of 25 points only , it was very volatile. As the US markets were closed on Thursday and Friday, the volumes were a touch below average. The NSe Nifty closed at 3950.85 with a modest gain of 5.40 points. The BSE sensex closed at 13703.33 with a small gain of 22.50 points. The FIIs were net buyers in the cash market segment for 300 crores, in the index futures for 41 crores and net sellers in the stock futures for 249 crores. The FII activity in the frontline stocks have clearly dipped looking at the volumes. It appears that the focus has shifted to the mid cap stocks.

The outlook for 27Nov06 is again volatility. The resistance for nifty is at 3970 and at 4000.The support is at 3930 and at 3890. Day traders are advised to be cautious. The stocks will be all over the place in this week.

Disclaimer: The recommendations provided would be purely on my personal opinion and doesnot reflect any fund house interest or my personal holdings. I would not be responsible for the loss in trades undertaken based on my recommendations.