The creeping uncertainties….

We are there but there are developments across the globe, now the second biggest economy Japan facing political uncertainties as the Prime Minister resigned on 2nd, but the Nikkei closed in positive territory on 3rd, the Hang Seng lost 457 points but we were at Ganesh Puja.

The real challenge is that the previous jubilant mood can be carried further as the new opportunity at hand can be used by Bulls is the question at this moment?. The newspaper headlines quoting on the Indo-US nuclear deal that come for discussions at the NSG meet will reveal the conditions and proposed restrictions on India to conduct future nuclear tests. The Asian markets are bleeding in red as Hang Seng lost 140 points, Nikkei lost 45 points and the SGX is now quoting at 4450 level a 55 points down from the Friday closing.

The Nifty has to cross and trade above 4539-41 level to continue the up move to become a trend in the coming days. The Nifty has bottom support at 4449-51 level as first support and the better one at 4421-19 level. This can be achieved only when the RIL trades above 2220 level and the high shall cross the serious resistance at 2265 level. The ONGC is in better place good above 1065 level, so today it won’t considerably fall below that level.

For today, the RIL has resistance at 2243-41 level and the support at 2161-65 level.
The ONGC may get support at 1065 level. The SBIN has resistance at 1553-56 level above that level it will touch 1591-89 level. The Support expected to come at 1471-67 level.
The ICICI will rally further if it trades above740 level, the immediate resistance at 729-31 level, support can be expected at 691-693 level. The RCOM one of the weakest stock in the Nifty is good above 405-03 level and may find resistance at 411-15 range, the reasonable support at 391-93 level.
The reality pack may get some selling pressure, the DLF is good above 515 levels and it shall not trade below 503 levels to see the up move continued in future.
The Tata Steel, Sail and RPL are in their previous levels.
The NTPC and BHEL will see a knee jerk reaction in case any negative developments at NSG meeting. Incase NTPC trades below 171.90 and BHEL trades below 1646 level, expect some smoke before the fire engulfs.

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.