Wednesday, August 22, 2007

Poly-tricks Play now?

As posted Nifty failed to open above 4235, in fact high could not cross 4239 is a weak signal and drifted as the time reaches to closing.
The stocks are not chased but are available at throwaway prices. When the street dogs bark on stocks up move the retail investor wakes up and wait until the wealth ruins to dust in a fall market. The important noticeable happening in the stock market is “ the retail investor is the last person to enter in a bull move and the final lot to exit in a bear move”. The markets are finding the bottoms for support. So wait till the formation takes place or buy in 20%, 30% and 40% for every 100 points fall for Nifty. The 10% will be the reserve for buying in a bull move after the second level of purchased price crossed.
For today, the Nifty shall not trade below 4021-18 levels to take a bear trap up move. The Bhel has support at 1541 and Bharti at 783-86 level, L&T at 2151-53 level. The RIL bottom has support at 1721-23, ONGC good for long above 809, ICICI has support at 811-09 and SBI has support at 1414-1416 and shall not breach 1380 level for a market come back immediately. Every-body might have forgot Idea, has support at 103-05 and V.G. support at 96-98 range, don’t forget to take delivery.

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