Nifty had a positive closing on Friday on account of short covering and some value buying on the back of good global cues.Nifty is now approaching the upper band of the range 4740-4750 is a major resistance area and it will require lots of efforts to get past this level. If global cues remain supportive then only we may see Nifty trading above 4750.China still remains a concern.
Individual stocks is the place where action would be taking place. Some of the stocks have corrected and gain started their upward journey.
Voltas, ICSA and Petro Net have resumed the uptrend. KPIT Info system , India bull real estate are also poised for an upward move.
Gold is now trading at the upper end of the range if its able to trade above the key resistance level of 16000 then we may see it going all the way up to 18000.
Sunday, September 6, 2009
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