Nifty as per its predictable pattern for the last few months again faced resistances at higher levels.
Cement sector saw some momentum buying and most of the stocks from this sectors are coming out after a long consolidation with having formed multiple bottoms on charts.
Century Textile, ACC, Grasim , Prism Cement all have similar patterns.Rail stocks like Kalindee rail, Titagargh, Texmaco and Kernex are also climbing up steadily.
One can go long on dips in these sector.
Heidelberg cement has support at 48 and resistance at 57.
Kernex Micro system has support at 115 and resistance at 135.
keep volumes low, trade less, trade well.
Wednesday, August 11, 2010
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