The market has become stock specific, one day TCS up, other day Satyam up, another day Infy but rest techs were normal. As I wrote earlier on 21st. the rotation has been in place to keep the Nifty up and up. The beauty of the market is - rewarding those who dare to take del. on declines. The word of caution is never take del. in a FALLING MARKET.
The world markets are flat with negative bias but US + to – to flat, emerging markets mixed. The RIL is good above 1915 weak below 1904, ONGC good above 926, SBIs first bottom support at 1542, ICICI support at 950 good above 966, Bharti good above 920 (today Results). Tata steel positive above 719-21, weak below 706. Infy has immediate support at 1956, resistance at 1996, good above 2020. TCS good above 1166-69, Wipro good for del. above 510-12 stop loss 504-05.(like ITC, in the making but takes time).
NEWS: Air Deccan issue, Infy by out, RCOM- air tickets yatra.com, ONGC and HDFC post results effects. Sail with Mittals, IDFC with India Infrastructure Fund, L&T and Bombay Dyeing tie up. Canara bank broking business, Siemens shops in US.
Thursday, July 26, 2007
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2 comments:
Hi Mr. Rao,
am surprised to know that you are from vizag, I too am from here and am trading in stocks for a few years now.
munna
GOOD LUCK Munna
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