The troubled assets due Maddoff deal could spill cascading effect as the days pass by. The market is surging to absorb the good news coupled with short covering. The markets are trading above the immediate support level at 2935 well above that level close despite of the momentum in the upwards has reduced considerably.
The positive side of the up move is that the RIL touched the 1395 level well above the 1356 resistance level. The rebound of the ONGC above 694 level cross the resistance above 705 is a favourable sign. The slow down sectors paid much lower advance taxes reflects the slowing growth and business expansion may pull down the indices by 200 points to 2700-2800 level.The advancement of Bharti, NTPC, ITC and HUL will yield to selling pressure apart from the RPL and RIL.
The positive side of the up move is that the RIL touched the 1395 level well above the 1356 resistance level. The rebound of the ONGC above 694 level cross the resistance above 705 is a favourable sign. The slow down sectors paid much lower advance taxes reflects the slowing growth and business expansion may pull down the indices by 200 points to 2700-2800 level.The advancement of Bharti, NTPC, ITC and HUL will yield to selling pressure apart from the RPL and RIL.
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I don't worry too much about pointing fingers at the past. I operate on the theory that every saint has a past, every sinner has a future."
Warren Buffett
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