The US cues were negative and the Asian markets are trading in negative bias and our ADRs also in red. We came from a depressed sentiment to positive but the June series came to an end in this weak, so we are likely to see bulls unwinding and the bears exert pressure.
In case the Nifty fails to trade above 4259-61 levels in the first half an our and RIL fail to trade above 1709-11, it is likely that the markets find comfort at 4214 level to close. The positive counters like SBI, ICICI and Bharti shall not trade above 1441, 947-49, and 821 levels respectively to see a 40 points drop in Nifty. The rest of the counters are at their old support and resistance levels.
A pull back can be seen in STER above 581, TCS above 1147 and NTPC above 153. The Idea crossed the resistance 118 on Friday can be observed continue to good for del. above 118
Monday, June 25, 2007
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