The indices are rallying against each other at the global level and we are also integrated. The rally can be supported by the RIL and SBI as they were lagging.
At home, the Nifty has Bulls support above 5053 level and Bears wait until 5019 level and from there Bears will have advantage.
The RIL has support at 2275-71 levels and the upper side resistance at 2326-2331. The SBI has support at 1875-71 levels and the upper side resistance at 1926-1928.The RCOM has resistance at 626 and become weak below 603, Tata Steel has support at 835-34 and good support at 825-23, the resistance at 851.
The DLF is strong above 763, stop loss at 751-53 level. The UNITECH has bottom support at 312-09.
The run-up in REL has good bottom supports at 1305-06 and Relcap has good support at 1753-56 and the longs have to be maintained. The Bull move can be accelerated in Idea above 129 and in IFC above 149. Fresh long positions in L &T can be initiated above 2895.
Those who are long in NTPC can book their profits, as the target price is close at Rs 220/-
Wednesday, October 03, 2007
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