Finally the bulls have taken some breath. Markets have started correcting a bit. In the last 3 days Nifty is down nearly 200 points from the top which it made on friday last week. But the fall is not that severe. Last 3 days mkts are making fresh bottom, from the recent top. Nifty in the last 2 days have given a close below the major resistance level 5150. For the futher up trend the Nifty need to close above 5200 levels.
Tata stel pretty good yesterday, touched high of 839, but fell on the news that the steel makers have to cut on the prices. Today again, we may see some correction on back of bad sentiment in the world markets. Traders are adviced not to take any positions before the makets stabilizes. In the late hours we may see some pull back. But the question is that, will this pull back stay???
Crude made a new high on 123.75. BUY relaince capital near 1400 with the SL of 1391 tgt 1505 CMP 1452. SELL NTPC tgt 185-182 SL 196.5 CMP 192.75
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