The influence of US markets and the importance of global cues reflected once again on Indian market. The US holiday brought stand still in the movements of other markets and the Sub-prime devil is sub-due without many headlines.
The Nifty just crossed to 4501 but did not trade above 4496 level and just touched 4460 but did not trade below made all the difference. The range bound move restricted the scrips and Nifty to touch the anticipated levels but likely to touch tomorrow. As posted, SBI did not cross 1621, RCOM stooped at 450 level and Tata Steel capped at 699 level.
As expected, the NTPC slide to 180 level and the techs tried to surpass their immediate resistance levels. The DLF and Unitech made good moves and now DLF has become an indicator – a fall below 589 is an indication of weakness in the whole market.
Tuesday, September 04, 2007
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