Tuesday, August 21, 2007

The bottoms need support?

As posted, the Nifty neither could cross 4265 nor could trade above 4235. This is not a bad sign but need some strength to go up in future. The RIL could stay above 1781, Bharti above 821 but the low of ONGC and RCOM need to be improved.
The Govt. is in dilemma but posing brave face to the press. The Left parties are serious because they have to do their opposing and supporting job.
The US markets are consolidating; Asian markets are trading in Green. We are likely to open high and may continue the journey.
The stocks need to advance further so that the bottom support will be strong to face greater shocks. The Nifty has to cross 4375 level as early as possible.
Today Nifty has to open above 4235 level and high shall cross 4279 to believe the up. The RIL has to cross 1840 and trade above 1826.
The supports to RCOM at 493, Tata Steel at 563, RIL at 1791, ONGC at 809, Bhart at 820 and for BHEL 1541-45 levels. The software stocks may cover their losses today and Satyam may cross 446-48 level and Wipro may cross 484 level.
On 21st July posted about the Fertiliser stocks likely to move further and even now they are cheap if one can wait for 6 months.

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