The US markets recovered but the Asian majors are in red with deep cut may place our markets in red. The markets are expected to see some recovery in the fag end to see the bottoming out at 4250-60 is intact. The SGX Nifty is currently at 4338, a discount of more than 60 points. The Hang Seng down by 475 points (2.37%), The Nikkei is down by 150 points (1.2%) may put further pressure on our markets.
The Nifty is weak below 4391-93 level and to see the upward movement then it has to trade above 4480 level. So at present we are struggling to protect our supports at the bottom level. As such the bottoms supports are below 4350 level are close to one another. The 4339-41, 4321-19 and the 4285-89 will come at this critical time but the problem is the pressure on the higher levels.
The RIL news to increase the gas from D-6 block, LT 750+ cr orders and the BHEL 2200+ cr orders and scouting for new alliance with GE, the telecom investments all are now discounted will get life when the markets turn up.
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, September 11, 2008
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