The very nature of the fight at the top can be seen at the high of its spirits to trigger all stop-losses on both sides. The power fight can be clearly observed on the streets for the last 4-5 trading sessions. Can the China red-effect percolate tomorrow to us ?.
The DLF brought much needed relief to bulls and sentiment as it could trade above the issue price in spite of many negative views. The sentiment is in favour of bulls but stock specific action can be seen, as there was no run-up but up move for those who hold for some time if not for delivery.
FOLLOW UP : The RIL could not trade above 1721 came down to support level @1683-1681 levels, the same is with SBI, could not trade above 1566, the RCOM traded below 539 brought it to 526 level but bounced back to 552. The Strength in ICICI, bottom support of ONGC and bounce back of RIL from lows brought Nifty to 4355 levels.
Thursday, July 05, 2007
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