Global markets firm up , will we follow ?

Global markets have again bounced back despite all the odds. Lets see if our markets take a lead and follow it. Markets always have an element of surprise.It is also possible that Nifty may cross the hurdle of 5180 and reach a new high before this year ends or it may again slip down from those levels and forms another top. Well, we all come to know before the year end.

If Nifty is able to make a new yearly high then Banking stocks have to pitch in.


Canara bank has supports at 374 and resistances are at 415/ 432.


IDBI has supprt at 119 and resistances are at 131/138


REC is showing signs of continuation of the original trend - support is at 225 and resistances are at 255-265.

One should keep volumes low as long as Nifty is trading below 5080.