The recovery is FOR SURE …….

The readers might noticed that it is a big opportunity to buy blue chips at this level as this is anticipated due to the global economic crisis resulted correction.
The markets across the globe proffered profit booking at the cost of Greece. The emerging markets are attracting more FII inflow from the west. The foreigners want the available opportunity to build their positions as the growth rate is close to 9% in India. The inflation concern is not mitigated by the policy efforts.
As I mentioned in my earlier posting….The short term traders buying at lower levels shall enter the markets at 4830-40 level which may become rock bottom support for Nifty…. The Nifty is well positioned to go to next level from the base support at 4830-40 level to 5080 first and may face serious resistance at 5140-46 level.
The Ambani brothers burying the rivalry is positive to markets as the fear of counter part action as a threat or a challenge is reduced to minimal is maximum support to bulls. The RIL is finding difficult to trade above 1018-20 level is negative sign but tomorrow markets may cover the journey with ease. The ONGC stellar movement saved the Nifty falling to deeper levels will also help it to scale up to higher levels without facing much resistance. The ONGC now may stay above 1055 level with out any difficulty.
The metals corrected deeply on account of slowing demand from China may get support in coming months as the economic recovery is sustained and the earnings strength is visible to the markets can offer decent valuations. The TataSteel is likely to touch 586-78 level, the TataMotors may touch 765 with ease.