The consolidation …

The markets took support from the heavy weights like Bharti, RCOM, LT, SUZLON, RIL, ONGC and ICICI Bank. They either advanced a bit or gave bottom support from further erosion.
The markets are taking time to see that the final hurdle at US senate to complete the process with out any postponement.
The RBI’s “inflation watch” kept the markets keeps guessing the new Governors calculation on the money supply.
The MARKET pulse check by STOCKOMETER: the markets took support at the crucial level as expected and closed on a positive level above the resistance level at 4450. I mentioned in the morning that ….(The opening will be influenced by the rest of the world but the closing is very important to see the strength in our markets to claim that the N-deal and emerging blue chip market.)
…(..The Nifty has support first support at 4449 and at 4421-16 level which is crucial and the markets shell not get any supply of shorts at this level. If Nifty could trade above 4481-3 level is a bullish sign but the high had to be crossed the minor resistance at 4505-08 level for this day). The NIFTY high at 4497.50 and the low at 4418.95

The Reliance has support at 2101-03 and the best support at 2088-91 level. The resistance at 2156-59 level…. The RIL high at 2159 and the low at 2086.55

The ONGC is good above 1109-1112 level and weak below 1093 level. The ONGC high at 1129.70 and the low at 1052.65 but it did not trade below 1093 level.

The ICICI bank good above 726-24 level for further appreciation. The support can be expected at 696-93 level. The ICICI bank high at 717.90 and the low at 700.0
The DLF is good above 525 level, The DLF high at 509 and the low at 499.25
The JP is good above 176 level. The JP high at 174 and the low at 169.15
....(The fact is that almost all stocks are in consolidation mode above their support levels and close to the resistance levels. So they are in trading range with negative to positive bias rather than pure negative view.


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.