Thursday, August 16, 2007

No Green, All Red?

The world is now under tremendous pressures on Sub-prime issue. Renowned companies involved and struggling to save their face in spite of having experts of top quality failed to save them.
Anyway the number game is to live so long the market lives. The Nifty is likely to open below the support level 4330 and could even touch mid June levels of 4140 immediately. The rampage is a carry forward effect; it should recover fast before it could consolidate further. To such effect, Nifty should trade above 4320 level with 4-5 trading sessions. The RIL has good support at 1792, SBI has good support at 1540-45, ONGC has good support at 833-34, Bharati has good support at829-30, Infy has good support at 1920-35, TCS has good support at 1093-96, Satyam has good support at 459-61, Wipro has good support at 462-59, Tata steel has good support at 620-23, Sail has good support at 139 level NTPC has good support at 161-63, ITC has good support at 158-59 levels.
In case SBI trades below 1485, the market is under severe bear pressure, in that case it should trade above 1540.

No comments: