Monday, July 30, 2007

Fear & Greed rules the market!

The local conditions developed for an up move but the fear over the developments of global weaknesses and the rising crude price is the concern.
The HUL, RIL and SBI did their part at their end but the street response to it is difficult to predict. As of now the fear is more threatening investors to go long or to keep their holdings in this turbulent times.
Now the numbers game- Incase nifty high don’t cross 4481 weak, trades below 4441 very weak likely to touch 4383 next 4341-39 range. RIL has good support at 1839-37, trades below sell all del., the markets take longer period to recover. Incase ONGC trades below 881-83 level, the markets will touch 4140 level very easily.
The good supports- SBI has at 1464-61, RCOM at 510-512, Tata steel 621-23, Sail 138-139, Rel.cap at 1174-71 again at 1147-49; ICICI at 881-83, Bharti at 873-71.
As of now the other part of the world is melting, in any case these three stocks shall trade above their best support levels to see the steep fall as correction-- ITC trades below 163, HUL trades below 188-89, RIL shall not trade below 1815 will make the things worsen.

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