The global markets too in bullish mood and the markets are jumping to test new highs every time. The Indian markets are in jubilant mood as the FIIs are pouring money and now new money in the form of SPACs is coming- a threat to the managements with low percentage of share holding.
Nifty is comfortably placed in support of bulls so long the low does not breach 4411-09 levels.
No big news, exporters get sops and clearances to SEZs. Today it is likely that RIL can break the range bound, above 1718 strong and below 1703 weak. The stop-losses are either side. The reality may take a halt from higher side. The SBI is expected to see action- above 1563 up below 1541-43 is down wards. IDFC is good above 126.85 and stop-loss at 124. Relcap is weak below 1153-51 good above 1171-69.
The pressure from bears can bring RCOM to 541-43 level, Steels may correct a bit at the fag end of the session. The move initiated in telecoms like MTNL may continue, VSNL expected to participate and ONGC to support bulls if it trades above 891 and stop-loss at 883.
Friday, July 13, 2007
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