FORGET 5000 !!!!!!

sunday, september 18, 2011

The No Growth-Inflation…..

..........The Reliance has good base at Rs 810-15 level but likely to test 767-73 level. The ONGC may float above 263 level. The Infy move from 52 week low level is now protected for now. The scrip may stay above 2285 level, TCS above 1014 and Wipro above 330-332 level. The best out performing stock in Nifty is M&M. The scrip likely to stay above 775 level even due to RBIs’rate hike impact. The HLL, the driver of FMCG has formed a base at 221-23 level. The markets take a sharp rise once the stock hits that level. During this week, markets will touch 5200 level or likely to cross. The Nifty has to stay above 4960 level.   

THE BLOOD BATH : The markets took a heavy beating sigle day fall after a long  time by the bears. The slaughter affect might have left the technical analysts amazed. We can predict the happening but the timing is crucial and critical. In my Sunday posting clearly mentioned the level. The bottom support will be at 4870-60 level for now .In case the Europe team doesn’t come with a solid proposal then the markets will trade below 4500 level. The RIL issue will spoil our markets growth for now. The tech team will save the index but Govt has to come out with encouraging policy decisions.At this juncture 2G scam is drawing and dragging all renowned name for good coverage.This will put road block on the rise. The Indian economy doing well is a fact but finds limited buyers in the market.

In case the policy decisions not favour or attacting the FII inflow to markets may drift lower and lower. Then the Nifty staying above 5000 is a gone case.At this juncture it is too early to announce like that but the circumstance are encouraging.