Yesterday shipping sectors saw momentum on the back of short covering and initiation of some long positions.
Though most of the stocks have been trading in a range GE shipping may break out of the range . The upper part of the range is at 325 and once it trades above it then it may zoom to 340-350.
Bank of India and M & M closed at life time high and they become a buy on dips stocks.
Oriental Bank of Commerce has support at 448 and resistances are at 476-500.
Wednesday, September 29, 2010
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