Welcome SubbaRao….

The hearty welcome to Subba Rao to the helm of affairs at RBI to give a jubilant growth oriented financial directions to Indian economy.

The markets are good to hold above the immediate support level at 4280 level. The markets are likely to get more room to go upward as the resistance is decreasing. The SGX Nifty is now trading flat at 4370 with positive bias. The Hang Seng is struggling to stay above positive territory by 5 points but the Nikkei is in positive territory with 60 points up.

The markets move now will be determined by the global equity movements. The local news triggers are now company specific. The Suzlon buy in RE power reaches to 90% stake- the stock is good above 220 level and has bottom support at 208 and at 203.
The long drawn dispute went in favour of RCOM with Tata Communications may give some boost to the sagging stock price to float above 393 level, good above 406-05 weak below 381.
The fall in crude prices may dampen the Cairn but will help the BPCL, HPCL and the aviation sector.
The Tata Steel plans to buy the mine reserves may help the stock to move up as a temporary relief, good above 591 and may move to 640 level in line with the market movement.
The banking sector especially the SBI is good above 1375 level and can be considered that the markets lost the steam if it falls below 1340 level. For today, good above 1408-06 level may touch 1460 level.
The ICICI bank is good above 672 level and weak below 659 level, likely to touch 720 level in the coming days. The Relcap is struggling to cross the resistance at 1420-40 range which may live for some more time. It is good above 1380 level but weak below 1349 level.
The DLF could cross the 491 resistance may touch 540 level for today it has resistance at 509-11 level and once 515 resistance crossed may rally to 540 level.
The JP is good above 163 level and weak below 159 level.

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.