The recovery insight….?????

The scar is so deep…..!!!....
The dent made on the head of Nifty is deep enough that could consume longer period to cure.
The situation is ripe for the Bulls only when the Nifty bounces from 4680 level. But to eliminate the retail shorts Nifty rose steeply from 4985 to 5200 level.
The fresh shorts and the retail shortterm gains triggered profit booking that pulled the Nifty by 57 points. The positive news at Reliance with BP and the negative news at telecom 2G free spectrum cost at Bharti, Idea  and RCOM balanced at Nifty level.
The EU crisis is not over but the immediate market correction is completed as far as the SURPRISES at the short term. The Ranbaxy stellar results can create an upside room for more than 25% from these level. The Kotak Mahindra and Hindalco results are good and are in expected lines. The Vedanta Group is attracting the Environmental Ministry overlook on the Orissa plant and tribal issue ( AN ARTICLE TO BE PUBLISHED YESTERDAY ITSELF)……………………………………………………………………………………………………….

The continued rise of IIP numbers for more than 6 months above 10% is a good sign of recovery but the fears can now grapple over the poduct driven inflation!!!!!!!!
The Nifty could bounce from a low  of 5100 level to 5175 is a very good sign but it is a blessing in disaster as the sentiment damage happening with the Govt. policies is more concerned as favouring the few and damaging the core. The next battle will be on the intentions of encouraging the Indian corporates to be sold to foreigner in the teleco sector???.
This sense of insecurity can trigger a serious sell off by the vested interest parties as the negative news has wide spread reach than the counter part of positive economic liberalisation.
Anyway to live with the numbers as of now and every time, the present scenario favours the Bears solong the Nifty trades below 5185-93 level and the Bulls gain their collective strength above 5223.

The RIL is now at the cross roads as the 1093 level is approaching and the shortterm gains made are huge to book profits. The Banking sector AXIS has still potential to move up but only when it touches again at 1223-16 level. The SBI seems started moving in Southward as the counter faces resistance at 2296-91 level. The ICICI may find it difficult to trade above 929 level. The Tata Steel poised to cover the resistance at 593-96 level, fails the the lower levels are offing.
The so called Bull grip, Tata Motors shall cross the 826 high to maitain the Bull support. The Bear hug Bharti has support at 240 level and below that level is a buying opportunity. The Govt is going to announce some favourable policies to 3G winner and Bharti to gain the most.The ONGC is seriously facing resistance at 1046-51 level now likely to get support at 1015-11 level. Incase the stock goes below the support level is a bad omen to Nifty.