Monday, June 18, 2007

Is this fall can trap the bears?.

The Nifty is trading with in this range for last 8 trading sessions and the heavy weights are moving nowhere from where they have started. The moves are very range bound but the positive sign is that the fall is with low volume and the rise relatively with high volume. The Nifty could find its direction with a big trap on either side as this range bound consumed more than what is required.
The personal view is infavour of bears but the bulls are in no mood to give up. In case RIL trades below 1660, the bears enjoy the profits and many more will join them in the run. The caution is that Infosys shall not trade above 1995-98 and SBI shall not trade above 1331-33 levels. The global cues are likely to favour the bears.

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