Bears weep....WIPED out…?

The remarkable rally occurred in the Indian stock market with the positive global cues. The splendid response to the Fed rate cut by the markets is beyond my expectation. I am bullish as a whole but expected a small correction before it could test new high (pls. read earlier posts). The counters except Reliance, rest are waiting to cross their high resistance levels. But the fabulous move by RIL along with the banks like HDFC,HDFC bank, ICICI, SBI and the heavy weights like ONGC, Bharti, RCOM, Infosys, TCS, Tata Steel, SAIL and many more added fuel to the fire. The Sugars made a come back on the news of Ethanol usage and GoI support to the recovery of the industry.
I expected more room in the reality sector, sugessted for delivery especially in DLF (first-3/9/07)after it crossed 603 and asked to reenter at 618 (6/9/07) and again buy at 640 levels ( again third time- 17/9/07) that came yesterday to 643 and today simply 12% gain at Rs 720/-.
The new high can take the fresh journey from here as the bottom support was made at 4450 – 4503 levels for 10 trading sessions. The all time highs are in RIL, RPL, IPCL, REL, HDFC, HDFC bank, ABB, BHEL, Tata Steel, SAIL Sterlite and Grasim.