Thursday, September 13, 2007

Consolidation or Distribution

As posted earlier on 20-07-07, the UNITECH will be included in the Nifty replacing IPCL. In my earlier posts suggested to buy DLF….As suggested, those who are long in DLF above 603 may book profits and re-enter at 618 level. In future it is very likely that the Relcap will be included replacing MTNL or VSNL.

As posted yesterday, the RIL traded above 1996 but the Nifty could not hold above 4509. As suggested in the morning post, the RCOM got resistance at 548 and Bharti at 855.

The markets are just floating around 4486-4525 levels and the mid caps are running fast than their piers. The markets likely to correct incase it fails to move 4525 with in two trading sessions. There are signs of economy slowing down and the external influences put pressure on the rise.

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