No Left only Right to N-deal….

The UPA govt. lost the support of Left to stay in power to sign the N-deal but manages to garner the like minded parties to corner the Left that the deal is inevitable in current scenario to meet the ever rising energy needs.
So the deal will be through and benefit lots of companies like LT, Punjlloyd, ABB, Areva T&D, Siemens, NTPC, RelInfra and many other smaller companies queuing to cut their share in the cake.
The best thing to the markets is that the uncertainties as odds to Bulls start diluting as the time pass by. The Nifty clearly took support at 3850 level. The banking sector is inviting the MTM loss from their overseas bonds/contracts due to the new guidelines proposed by the RBI and the Reliance weakness crippling the fast run up from these levels.
The frontline stocks likely to advance (for tomorrow & short-term indicators) as the RIL is good above 2025, very good to markets if it can cross 2140 level and shall not trade below 1930 level (last excuse). The RPL shall trade above 167-168 level and shall not trade below 160-161 level.
The RCOM has good support at 405-403 level and good above 421 level. Bharti shall cross and trade above 729-31 level and shall not fall below 706-03. The ONGC shall trade above 886 and shall not trade below 840 level. The NTPC is good above 156 and very good above 163. The Rel Infra is good above 756 and very good if it could trade above 805 level. The Punjlloyd is good above 230 and very good if could cross 246 level but the low shall not breach 204 level.
The tech pack suddenly lost their support and started correcting to adjust to Nifty levels with positive bias.
This may not sound good but the fact is that the bears will not allow the Nifty for a run-up rally with a single/two piece of good news. The smaller political leaders/parities will cry loudly to bring attention for a better bargain could make the Nifty swing widely. During this bold headlines time before seeking the vote of confidence the “deep pocketed” shorts will be covered peacefully. The rally cannot be expected at this point in time as the consolidation has also not happened after the steep sell of fall from 5300 level. So the Nifty may oscillate between 3900-4680 level for July and first half of Aug-08. During this period the crude likely to come around 112-118 dollars and the inflation may show its decline to South-wards.