The early signs…….

The markets are taking the early signs of recovery from these levels. To substantiate the earlier posting, there was a jubilant recovery that occurred as if there was a bull grip over the markets.

Today the market lost all the gains that made yesterday. The silver lining of the days action is that the markets dug enough space to burry. As a matter of fact whose grave yard is this any way?. The markets may test the 3600 level but the bounce could become very sharp as it happened in yesterday’s move. The hope that can light the Bull Run torch could be from the support from the Nuclear deal.

The market stability will also depend on the 4020 level, and shall march above to 4230 level crossing the high of 4285 with in 3-4 trading sessions. Incase this won’t happen then we ca assume that the bottoms were washed till 3100 level. We like it or not the markets know the news better and that will be reflected in the price that is what ultimately represent in the technical analysis. The Reliance shall trade above 2080 level and shall cross the early resistance of 2285. The bottom support of RIL, ONGC, SBI, Infosys, wipro, Bharti, LT, BHEL and DLF shall not be challenged by more than 2 percent.

There is no reason to worry at this point in time as the markets are at cross roads. It could become a good opportunity buy rather than selling the holdings. The bounce will easily take the Nifty to 4560-4630 level. The temporary worst can be considered over when the Reliance Infra crosses 850 level, India Bulls Real-estate crosses 310 level, the LT crosses 2400 level, Bharti crosses 785 level.