The global cues are positive and the mood in Indian market is also favouring the bulls, can help the Nifty to float above 4400 and it seems bulls determined to touch 4480 as posted in earlier posts.
The scrips in news- Hindalco & Sterlite, the copper trading at 7-week highs. The RIL-(slightly negative) gas KG-blocks issue, ANIL, now a trillionaire, the companies likely to move up. MTNL acquires Suntel in Srilanka.
Nifty shall not trade below 4361-63 levels to continue the up move. The RIL shall trade above 1715-16 level, RCOM above 556 and the Pharma shall move to equate themselves in the upward journey. The techs changed the bottoms support, as Infy above 1955-56 strong, Wipro above 516-18 and TCS above 1153 are strong. Those who took del. in Satyam and in ZEEL can wait until Satyam stays above 483-81 levels and ZEEL above 306-05 to gain more. Tata Steel good above 625, SAIL above 132. The SBI has become weak until it stays below 1549-51 level and ONGC below 883, technically weak.
In case of profit booking pressure, cements and banks are weak.
Monday, July 09, 2007
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