The test of stimulation…..

The test of stimulation…..
Due to net failure at my end failed to publish but for record now….

The Nifty is good above 2860 and likely to stay above for some time. The immediate bad news is remote and the positive news keep flowing till the Nifty crosses 3250 and touch 3280 for stop-losses get triggered to clear the weak hands. In case the markets doesn’t find the required bottom push to scale up but still not weak for a free fall as the expectations from Obama is high. So the markets will swing between
2700-3100 to the weak results show and hopes of miracles from the future.

The local news will be adverse as the Govt. is preparing to put pressure on the PAK and their counter “war drama”. The PM will be busy in tackling the external/curbing terrorism could put the economic reforms on the backburner. The political equations will start demanding the “time & attention” as the April-May may heats up the capital.

The SBI, ONGC, Bharti and Reliance are becoming weak but just moving up with unease. The Infosys results and the fiasco of Satyam can impact the sentiment.The Reliance is good above and can touch 1330-1350 range but the resistance at 1372 is crucial. The ONGC is one of the
weakest face resistances at 693-97 level and at 717-20 level.
The SBI is the best chart to observe has resistance at 1380-83 level but has good support at 1218-22 level.

The Bharti is being in the accumulation phase. The well drawn
boundaries for it are 749 at the higher side and the 650-60 level is at the
lower-side.The DLF made a second trial to stay above 305 but the real test it faces at 326-30 level but a clear bottom building is happening at 220-16 level. The immediate support level existed at 260-66 level.
In view of the RCOM plans and the future 3G auction it built a bottom at 187-93 level and the second level in the process at 221-226.