LEADERS look Southwards!

The corporate results are good, the economic situation is comfortable, inflation is stable and the fund follows are good but the market leaders are in no good command to lead the rally as discussed in earlier posts. In fact Nifty opening trades happened above 4117 but failed to cross 4139 and lost the hope to hold the position, surprisingly touched the low at 4058 and closed weak at 4067. It is unlikely that on Friday Nifty can have a 80-100 points rally to erase the scars on the bulls face.
As of now no major damage has done to the bull move but the signs of tiredness can be seen. The Midcaps on stock specific basis will do well but the rally cannot be expected for time being.
So the global cues and Asian markets support much needed to rejuvenate Nifty to trade, other wise this weakness could see much lower levels.