The Nifty could show its strength beyond many analysts expectation. The world markets were weak but India became an exception. The RIL though did not breach the bottom support as well failed to trade above 1721-23. In the earlier posts expressed a view that techs will bounce from lows, which happened on Friday with small support from Autos.
However the Nifty bounced back is a positive indication of the Bulls strength, but the negative developments are cropping in support of bears. The May series should end above 4200 and the heavy weights should trade above their short term support levels-RIL above1723, ONGS above 928, ICICI above 921and SBI above 1321.
Sunday, May 27, 2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment