"Nifty and Sensex broke the supports mentioned for wednesday..4250 and 14400; and naturally markets went loose, as lot of stop losses must have been triggered. Nifty and Sensex are making lower tops and lower bottoms and are naturally the sentiment is quite negative, since the global markets are also experiencing melt down.
Sensex and Nifty have closed below 20 DSMA of 14285 & 4219 on closing basis, gives strength to bears. Till markets close above the May closings; it becomes a sell on rallies market in the immediate short term. However, for medium and long term investors it is a great opportunity to pick up blue chips which have proved umpteen number of times to bounce back, once the sentiment improves.
The day's range for Nifty shall be 4141 (Support) and 4245 (Resistance); Sensex shall be 14150 (Support) and 14400 (Resistance)
Thursday, June 7, 2007
Out Look for Thursday.
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1 comment:
Is IT sector a good buy. Can we go ahead and purchase Wipro at the current levels? Or should we wait for some more down turn in the NIFTY
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