The markets are waiting for the Fed rate cut and boost to financial markets in US. The markets in INDIA are strong but we are integrated with world economy. So we rise every time on a given opportunity as well we bow to the external pressures.
The Nifty is strong so long it trades above 4461 and the RIL trades above 1961. Unless ONGC trades above 845, the Nifty cannot cross the new high.
In case Nifty trades above 4509 and the RIL trades above 1996, then the market is strong other wise the Nifty will touch 4439 level. The RCOM, RIL, Bharti are weak likely to bring the Nifty to lower levels. RIL has resistance at 1996-98 level, RCOM at 546-48 and Bharti at 856-53 level.
The Nifty is strong above 4486-89 level and there could be some short covering in techs to bring higher levels for more shorts to happen. Don’t buy techs unless Infy trades above 1925, Satyam above 463, TCS above 1083, Wipro above 483-85 levels.
Wednesday, September 12, 2007
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