We are getting the bull support to the Nifty as the expiry is near to close. The shorts built at the beginning of the series also propping to stay positive. This is not a healthy sign to the bull market as it passes through invite vengeance, which clearly wipes out the retail small investor, the real feedstock to the stock market industry.
The Nifty up by 26 pts. and Sensex up by 13 points, a rare case as RIL down and ONGC up changed the scenario. The Nifty is close above its support level of 4271-73, above strong, below 42461 can see a serious damage. The stocks are in bear pressure except Bharti, RCOM and ONGC. The rest are just close above or just below the support levels. No major change in their levels.
Personally I am bearish on Banking. Strong on Telecom. Steels both ways.
Wednesday, June 27, 2007
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