The Asian markets are trading lower by nearly 1.5-2% with negative cues from the last two trading days from US. The SGX (Singapore Nifty) is right now trading at 40 points down below 4400.
The NIFTY has immediate support at 4358-61 level and the second support at the 4306-4311. We could avoid the Friday fall and positively closed with the support from the India specific approvals from IAEA. Today it may not be the same and may loose the 80 points gain made on Friday and any close above 4335 is favourable to Bulls for the following sessions. The ONGC may correct incase it fails to trade above 1000 level and RIL fails to trade above 2270 then the markets become weak.
For Stock Specific Action, Visit: www.intradaystockcalls.blogspot.com
Never Forget: I may be wrong, You may be wrong but markets always RIGHT.
Monday, August 04, 2008
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