Wish You Happy and Prosperous NEW YEAR - 2009
"THE NEW YEAR WILL BRING WEALTH, HEALTH & PEACE TO EVERY ONE"
B.NAGESWARA RAO
Thursday, January 01, 2009
Tuesday, December 30, 2008
The strength gained….
As posted in the morning the Nifty took support at 2899 crossed the resistance of 2983-86 and registered a high of 2999 but closed at 2980 level. The SBI registered a low at 1259.60 and the ICICI touched a high at 464.85. The DLF has made a high of 290 level and the Punj was stopped at 148 level.
The ONGC is offer was accepted by the Imperial energy stock holders. The IRDA has allowed more investments by insurance companies in Indian Infra structure projects is a big boost to the firms.
The ONGC is offer was accepted by the Imperial energy stock holders. The IRDA has allowed more investments by insurance companies in Indian Infra structure projects is a big boost to the firms.
Nifty is having good support at 2860 level and the resistance at 2983-86 level.
The Reliance has support at 1220-23 level good so long it trades above 1235 and
in Bulls grip above 1245 level.
The SBI is good above 1256 and will face
resistance at 1297-93 and at 1320 level. The ICICI is shuttling between 403 to
460 level. The stock will cross the resistance and trades above 465 then look
for 525-30 range from where the banks will see steep correction.
The
reality& infra move in the past 10 days has exhausted and the correction put
them in trading range. The DLF is still in Bulls grip but the stock is good
above 293 level and weak below 271. The Punjlloyd took support at 136 level may
face serious resistance at 151-53 level.
The wait and watch ….
The year end move is positive as the markets took support at 2812 level bounced back to cross the resistance at 2930 level but the real challenge is that the markets are facing very strong resistance at this moment at 3030 level. The markets are surviving on low volumes in the frontline counters. The geo-political tensions are easing as the negotiations are heading for a solution as the super power US and the UK are putting pressure on PAK, seems threatened that the economic sanctions could be levied.
The saga of Satyam continued to be brutal bruise to investors especially the retail small investors who put their faith. The planned exit of Raju is most worrying to worrying than the corporate administration.
The Nifty is having good support at 2860 level and the resistance at 2983-86 level. The Reliance has support at 1220-23 level good so long it trades above 1235 and in Bulls grip above 1245 level.
The SBI is good above 1256 and will face resistance at 1297-93 and at 1320 level. The ICICI is shuttling between 403 to 460 level. The stock will cross the resistance and trades above 465 then look for 525-30 range from where the banks will see steep correction.
The reality& infra move in the past 10 days has exhausted and the correction put them in trading range. The DLF is still in Bulls grip but the stock is good above 293 level and weak below 271. The Punjlloyd took support at 136 level may face serious resistance at 151-53 level.
The saga of Satyam continued to be brutal bruise to investors especially the retail small investors who put their faith. The planned exit of Raju is most worrying to worrying than the corporate administration.
The Nifty is having good support at 2860 level and the resistance at 2983-86 level. The Reliance has support at 1220-23 level good so long it trades above 1235 and in Bulls grip above 1245 level.
The SBI is good above 1256 and will face resistance at 1297-93 and at 1320 level. The ICICI is shuttling between 403 to 460 level. The stock will cross the resistance and trades above 465 then look for 525-30 range from where the banks will see steep correction.
The reality& infra move in the past 10 days has exhausted and the correction put them in trading range. The DLF is still in Bulls grip but the stock is good above 293 level and weak below 271. The Punjlloyd took support at 136 level may face serious resistance at 151-53 level.
Subscribe to:
Posts (Atom)
