Tuesday, June 12, 2007

Will the up move continue..?.

As posted, the Nifty made no big gains nor lost much but added some hopes of strength with the big move from RIL. In the earlier posts it was mentioned that the support will come once SBI touches 1303-05 level and Nifty at 4087 level. The traders might have observered that the SBI touched 1305 which is a strong support and June series touched 4087 and then bounced back to 4155 level. The Tata steel and RIL have given decent returns to those on long and RCOM failed to trade above 506 touched 486 and Hindalco gave money to bears.
The up move is valid only when Nifty trades above 4186-89 level and the heavy weights should trade above the support levels. I request the viewers to consider the views for the day and some levels with special mention to be considered for 3-4 weeks. Now the markets are at the verge of the bull support. Unless a big move with 75-80 points single day rally in Nifty is happened with in 5-7 trading sessions it is likely that the markets fall by its own weight to 3680 level. I request
the readers to post thier comments and trading experinces.

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