Nifty once again, near 4950. In the last few blogs I have been talking about Nifty's major resistance level at 4950 and support at 4700. Last few trading session it has been moving within this band only, and I have also mentioned that the decisive breakout will be good either side for the Bulls and the Bears. Nifty has taken a good support at the “rest” trendline which has been marked with pink line.
According to me the upside is more logical, as all the major bad news have been discounted in our markets. Infosys results are also in line with the expectation. Fy09 revenue guidance was ahead of the expectation at 19-20% yoy. EPS guidance of 16-18%.
All the major companies will be coming out with their results. Markets may remain slightly volatile, but upside breakout in Nifty is definately possible. Close above 4950 can take Nifty to 5200 levels.
Few days back I have given call on RPL and RIL ind with the tgt price of 190 & 2500 respectively. Both the targets have been achieved.
According to me the upside is more logical, as all the major bad news have been discounted in our markets. Infosys results are also in line with the expectation. Fy09 revenue guidance was ahead of the expectation at 19-20% yoy. EPS guidance of 16-18%.
All the major companies will be coming out with their results. Markets may remain slightly volatile, but upside breakout in Nifty is definately possible. Close above 4950 can take Nifty to 5200 levels.
Few days back I have given call on RPL and RIL ind with the tgt price of 190 & 2500 respectively. Both the targets have been achieved.
RIl above 2618 can touch 2645. 100 DMA is at 2620, so some volatility will be seen at that level. RIL chart is showing a clear breakout pattern.
Reliacne capital looks good, BUy with the price target of 1345-1375, with the SL of 1276.
Buy Tata steel only when it trades above 702 for sometime. with the SL of 686.
Buy adlabs with the tgt of 750
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