The roller coaster….

The Asian markets are trading lower with more than 2 percent cut. The Hang seng down by 475 points, the Nikkei is down by 198 points, shows that the euphoria short lived for a day. The SGX Nifty is trading lower by 56 points at 4445 level. 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.
There are more positive news that needs attention apart from the N-deal euphoria. The 3G auction process, The DII’s can increase their holdings in Stock exchanges up to 15%. the Maharasra govt. increasing the FSI in the prime locals close to sea shore and the courts granting the conversion of old/depilated houses in Mumbai to be converted as Flats can increase opportunities for pure housing constructions companies.

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 Reliance has support at 2101-03 and the best support at 2088-91 level. The resistance at 2156-59 level, above 2169-71 it gains momentum to touch 2340 level in coming days and simultaneously the Nifty crosses the 4650 resistance.
The ONGC is good above 1109-1112 level and weak below 1093 level.
The ICICI bank good above 726-24 level for further appreciation. The support can be expected at 696-93 level.
The DLF is good above 525 level and the JP is good above 176 level.
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.