Thursday, July 12, 2007

No break in bullishness?.

The bears are looking the height the indices climbed but where as the bulls are visualizing the headroom upward journey to be made. What a clear distinction in approach?.
The Infosys results came, gone with wounds and thumps down by street, but the over all market was clearly bullish even at the top. Can the mid cap its survive in profits or take a cue from “igate” to report losses?. In case of loses what about the recent valuations?.
As posted earlier the viewers could have observed that Tata steel strong above 626 and yester day low was 627 run-up to 561+, RCOM has good support at 536 and it got the support. Those who took del. in ZEE at 295-300 range, as suggested went to 32-330 level, so reduce by 50%, wait till it trades below 308-09 for the rest 50%. Hindalco made an up move up to 158 but could not trade above, this time when it crosses 158, good for del. stop-loss @154.
The news that can influence is RIL gas may be that could be the reason to float between 1693-1718 for the last 6 trading sessions. It is preparing to bid in US for refinery. Now HLL (HUL) in news, take over attempt by Colgate.
Dabur merges Dabur foods, stay long with stop- loss @ 101.
Nifty is good above 4351-53 levels, but it unlikely that it can stay a long period in case TCS and Wipro disappoint more.
No major technical changes happened. Incase of bear pressure prefer short in SBI, RIL. ICICI has good support above 953-55 levels. MTNL will continue the up move stop-loss @ 163. Nuclear news-NTPC, BHEL, ABB and Punjlloyd.

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