The major indices in the world are recording all time highs. The Nifty engulfed in earnings season this weak but the business has to be continued. Today TCS results can change/confirm the view on techs future.
The Nifty support at the immediate level 4443-45, no shorts above 4491-86 level.The mood ticker is in favour of the bulls but the bears are spreading the negative sentiment as ‘valuations high’ at this point in time.
The RIL - good above 1766-65, weak below 1749., SBI- weak below 1536-39 good above 1563-66; RCOM good above 5549-51, weak below 533-31; Rel Cap- good above 1179 and weak below 1171. IDFC weak below 126.TCS is weak below 1121-23.
The del. suggested in Idea above 118 can wait to sell above 132-35 range and can add above 126 stop-loss @121. The metals and cements may correct from highs. In case of bear pressure prefer shorts in banks and cements.
Monday, July 16, 2007
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