We posted on our blog earlier in November that food inflation is here to stay.
http://swingtradingideas.blogspot.com/2010/11/food-inflation-is-here-to-stay.html
Yesterday these factors coupled with some more internal factors resulted in lackluster session. As far as Nifty is concerned 6070 remains a major hurdle. On charts Nifty is making lower top . On the other hand 5900-5950 remains strong support.
Orchid Chemical looks strong on chart and so does Vijaya Bank. But overall Banking sector is not performing therefore, sectoral tail wind is not there for Vijaya Bank but its a buy on dip stocks.
Pharma and IT sector may remain isolated from rising inflation and Interest rate worries .
Friday, December 24, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment