As posted the markets opened up above 4361, the RIL has made 1792 as low and Bharti stayed above 873. The ONGC, RCOM and INFY failed to stay above their best support levels to sustain the bull move as opened.
Now the concern is the Nifty closed below 4361 level at 4356, RCOM closed below 536 and ITC lost the bull support and trading below 169 is a worrying factor. To make the gains made to be sustainable Nifty shall not trade below 4336 and low shall not breach the support level at 4327. The bull gain strength tomorrow when RIL cross 1839, RCOM 543, Bharti 883, Infy 1993 and TCS above 1129. Those who have taken del. in IDBI can continue to hold until it trades above 109.
The global markets may take some profit booking as we did today but the fall shall not be steep to crate anxiety in the opening.
Tuesday, August 07, 2007
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