The markets soared to new high after it crossed 4100 level as the retail short sellers are in queue to cover.
The lackluster move displayed by the techs showed their strength at the fag end of the trading session. The levels suggested yesterday are valid till they are breached.
To analyse the levels: NTPC is very good above 163, today low is 163. RelInfra is very good above 805 level and the traders might have observed how it rallied from 805 to 845. RCOM is good above 421 level and today low registered at 420. Bharti traded above 731 to reach 758. The Punjlloyd maintained above 230 level. The RIl did not trade below 2025 rallied to 2095 level and the RPL traded at 168-169. The indicators suggested shall not loose their bottom supports to see that markets keep going up wards.
There is a word of caution: A patient discharged from hospital can walk but shall never try jogging/running.
Wednesday, July 09, 2008
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