Techs saved, rest shaved!

As we have discussed in the earlier posts the sell is stock specific but could pull the index down by 150 odd points at Nifty. The move has been anticipated and asked the co-passenger friends to half load their luggage of longs. The preparations to buy now have also been alerted, with caution they can build their positions. The day traders might have observered that the run in techs has been moved once the Infosys above 1935, wipro above 539-541 and Satyam above 473, were kept as bench marks. At the time of steep fall RCOM continued to trade above 516 held the neck out and said that it is strong enough to face the downpour of sell off. The regular viewers might have taken those levels while trading including Nifty a sell of point below 4283 and RIL below 1763. Now the old situation changed to a new one. We can discuss the new levels tomorrow for Monday trading.