Yesterday Nifty showed some sign of weakness in the last hour of trading session.Nifty futures also traded in discount. Going forward 5300 is a crucial support. This level is also the last week low for Nifty. If Nifty is not able to close above it then all short term long trades should be squared off.
Is it trend reversal ? Well, its too early to say about it let market tell us with confirmation. But yes the signs of wekness are developing.
There are some good stocks which should on on radar for buying in dips.
Hitachi home has broken out with huge surge in volume Its trading at life time high.Some of the other peers from this segment like Blue Star, Whirlpool are also on the similar trajectory path.
Tata Motors have also zoomed above all its resistances and is trading at new highs.
OMCs stocks like BPCL and HPCL are making rounding bottom patterns on charts.
Thursday, August 12, 2010
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