Today, we will have a lot of political developments on the nuclear deal front. This could keep market volatile as new flows and rumors float around. It is best to stay out till all this is passed as we do not know which side market will swing due to these news flows. Today is a stay out day!!
Technical Watch.....the IT index after a correction seems to be taking support at 61.8% Fibonacci retracement level and is moving up. This is also a results season, so IT could be a good performer in this condition. Watch this index for positional buying. Upside strong resistances are at 4200 and 4300 - 4400 levels. Chart of NSEIT is uploaded for study.
Stock Watch.....Reliance Industries is constantly finding resistance at 2130 levels. For intraday traders, a break above 2130 can give a good 50 - 70 points. Keep this level handy for trading.
Monday, July 7, 2008
Volatile Day expected...July 07, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment