The India’s top market cap leader, index mover Reliance is going to announces is quarterly results. The markets are waiting for the RIL results and the Nifty may swing in tune with the scrip.
The top notable companies that are going to announce the results are RPL, RNRL, Rel infra, Rpower, HDFC bank, LIC housing, SKF, Idea Zee news and many more…
The Nifty is good above 3381 and weak below 3356 level. The RIL results influence the market trend. The Nifty become weak if it trades below 3320 level will likely to touch 3265 and next at 3229-31 level. The second support level will provide reasonable bounce from 3211-18 level to Nifty.
The RIL is good above 1735 and weak below 1715 may get support at1684 level, once it falls below 1665 will get support at 1615-30 range.
The banking major SBI and ICICI are facing Bear heat. The SBI is weak and good support is at 1180-65 level. The ICICI may get support from 376-79 level. This will gain strength only when it crosses the immediate resistance at 416-18.
The Relcap is exhibiting good support at 500 level and will gain strength above 521 level and weak below 511-13 level. It has bounced from the support at 491 level when it touched 495 low now holding above 500. In case it falls below 495 then the support at 472-467 level.
The HDFC bank is facing resistance at 1100 level and the support at 1040 level. The critical juncture is at 1085-1067 range.Please watch out for break-out in SAIL, RCOM, United Spirits.The reality sector major is getting support at 225 level and the HDIL at 124 level.
Thursday, April 23, 2009
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