The Nifty is weak……

The Nifty is weak below the 2930 level and waiting for some positive triggers to cross the 3080-3100 level. The consolidation of Nifty around 2500-3500 level will take at least a quarter and half, and then the up move may cross the serious resistance at 3680 level and at 3900 level. Incase Nifty trades above 2860 and crosses the minor resistance at 2950 level, then it is good to go long in the power and infra stocks but as of now the Nifty is looking south-wards than the otherwise.
The RIL is weak below 1236-41 level, The ONGC is weak below 735 level, The SBI is weak below 1269-73 level, The ICICI is weak below 441-43 level, The DLF is weak below 269-66 level, The TATA STEEL is weak below 196-93 level, The BHEL is weak below 1380-1420 level, The LT is weak below 880-86 level and Relcap is weak below 665-70 level.
The Rel infra is strong and good above 560-68 level, NTPC is strong and positive above 151-53 level, ITC is good above 173 level. These 3 companies are loosing their ground despite of their good show in the last two weeks.
The divergence in the move from negative to positive is expected in the telecom stocks as the foreign companies are interested in our telecom sector. The RCOM is weak below 239-43 level, The BHARTI is weak below 719-23 level but these counters are in accumulation mode.