The up move has become short lived which is a caution to bulls. The Nifty could easily cross 4200 but bears took the opportunity to beat the bulls. The real secret lies a head as “who is trapping whom”.
The technical outlook is positive on account of global up run in the stocks. The Indian markets corrected today could be stated as bottom building so long as the RIL trades above 1641-38, ONGC trade above 831-29, RCOM trade above 493-495 and SBI trade above 1309. The weak steels turn to post gains when Tata steel trade above 593-596. The BPO story is turning to a new script as KPO and Pharma will do their research as CRAMS. What ever we do with our knowledge will pour ‘Dollars’. So no panic alarms but certainly some disappointments.
Monday, June 11, 2007
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