The Nifty could likely to cross 4385-92 range by the expiry of August month. The strength is not seen in the move but no threat to bottom support. The growth story becomes rosy only when Nifty opens above 4235 and cross 4263 level to see the short covering support. As a matter of fact, Nifty shall trade above 4295-4306 levels as early as possible to see a good support from the bear covering and buoyant move from bulls to up move.
The RIL is facing considerable resistance at 1800 level in-spite of the good news from the company. The RIL shall not trade below 1735 to see the up move continued and RIL should cross 1815 level in two trading sessions to avoid the bears on slaughter. The ICICI and SBI shall trade above 863-69 and 1485-93 levels for a safe Nifty positive move. The rest will follow the leaders as Bharti will cross 890 level and RCOM cross 518-21 level.
Sunday, August 26, 2007
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