The markets are flooded with big news on major investments by companies. ONGC buys the assets of Imperial Energy for $3 billion dollars. The RIL joins hands with Petrobras for petrochemical industries, RPL commissions its refinery by Sep-08, The RCOM-Big TV launch and IPVT plans, i-Phone sales by Bharti and Vodafone, Tata Motors changed plans in Rights issue, Maruti big plans to stabilize the margins and increasing of sales. Above all the NSG is meeting today and tomorrow to clear the proposal made by India’s nuclear plans.
The US markets recovered from the lows and our ADRs rallied but the Asian markets are sinking in red is the big concern for today.
The Nifty may find resistance to cross the 4461-63 level, the first resistance at 4445-47 level has to be crossed with ease. The news flow is good but the concerns are also compressing the move. The bottom support at 4393-96 is crucial and any major sell off in RIL, ONGC DLF and Bharti may change the direction.
The STOCK-TRADING is a “Skill-FULL Job”. NEVER blame others for the LOSS/DEALS.
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
Thursday, August 21, 2008
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