The markets really looking for the Global cues but bears waging their best battle to win, so that they even bring the markets in to bear grip. The Friday up move from lows and to days work is to save the day while waiting to see more unfolds from the Sub-Prime.
I think the markets will fall by its own wait unless bulls take charge of the situation to see Nifty trade above 4401-03 level in the morning first hour. So long Nifty trade below 4391 level is a caution to longs and incase it trades below 4339 no longs at all. Tomorrow, RIL has to cross the high of 1846 and shall not trade below 1818 level to keep faith in the up move. The Bharti shall trade above 863 and high shall cross 876. The two will tell the future tale of bull move.
As suggested, those who have taken delivery in IDBI at around 104-06 level can exit around 139-141 level, in case it trades below 116-114 level can book profits and fresh shorts can be initiated.
Now every body is interested in low volatile & defensive stocks, ofcourse they turn volatile once the retail section chase.
Sorry for not publishing the Monday possibility.
Monday, August 13, 2007
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