The steep fall in crude lifted the spirits of US markets and the spill over of the green spread to the Asian markets likely to positively impact our markets today. The beauty in strong economy markets is that they recover even they fall one or the other reason. Where as the emerging markets run-up like a sprint competition when the going is good as well they crumble like the sand houses built at the shore.
The sharp fall from recent highs of 4540 to 4160 level will give a bounce back as expected. In my earlier write up it was mentioned that the markets holds above 4285 from the yesterday lows will confirm the bottom base at 3800. (Dt 28-07-08-The short-term lower side support exists at 4093-4100 level that will give a bouncing support…..)
Now the Nifty is likely to open positively with a gap up above 4211-15 and will cross the resistance at 4265 with ease but the strong resistance at 4285 has to be crossed with confidence. The caution is that the markets are trading ahead of the July expiry. The volatility is likely to be high and it may cause tension to the traders and the investors but the support levels will not be violated as the situation stands at this point in time.
For Stock Specific Action, Visit: www.intradaystockcalls.blogspot.com
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
The sharp fall from recent highs of 4540 to 4160 level will give a bounce back as expected. In my earlier write up it was mentioned that the markets holds above 4285 from the yesterday lows will confirm the bottom base at 3800. (Dt 28-07-08-The short-term lower side support exists at 4093-4100 level that will give a bouncing support…..)
Now the Nifty is likely to open positively with a gap up above 4211-15 and will cross the resistance at 4265 with ease but the strong resistance at 4285 has to be crossed with confidence. The caution is that the markets are trading ahead of the July expiry. The volatility is likely to be high and it may cause tension to the traders and the investors but the support levels will not be violated as the situation stands at this point in time.
For Stock Specific Action, Visit: www.intradaystockcalls.blogspot.com
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
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