JSW STEEL
Rising Trend line support at 665-670.
Expect a bounce up to 690-703 from that level
if not closing below 665.
Buying zone 670-675
Bharti Airtel
Crosssover above 244 may drive up to 247
If sustains above 247 then blast up to 254-259.
Buy With stoploss below 238 on closing basis.
Buying zone 242-244
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Nifty Future
(Updated on 31-08-2012 at 08:15 AM)
Yesterday we indicated market might deep up to 5266-5251.
See NF took U turn from 5258.
Now for today…
5318-5311 Intraday minor support.
If NF doesnt break below 5290 and
trade above 5320-5324, It may rally again.
5335-5341 is hurdle zone.
Decisive crossover above 5348 may add the
strength and travel up to 5360-5378.
5251-5210 zone is major support for medium term trend.
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As India seeks to control high inflation, RBI Governor D Subbarao has said a little sacrifice in growth is “inevitable” amid efforts to bring down prices to acceptable levels.
Subbarao said criticism is often directed towards the central bank that even though it has raised interest rates and runs a tight monetary policy, inflation is still “high and persistent” and growth has been hurt.
The RBI’s response to the criticism is that “some sacrifice of growth in inevitable, a necessary price we have to pay to bring down inflation. But that sacrifice of growth is only in the short term.
What’s Gold and Silver direction? Do you know on 26 June 2012, I had written about Gold (CLICK HERE TO READ IT AGAIN) and said,”Once Gold will cross and close above 30307 then you can buy it without worry with targets: 30500-30700-31000. Don’t sell MCX Gold without advice.“
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IDFC
134-133 is good support.
Breakout and closing below 134 drive it to 130-127.
Above 138 expect 142-146.
Crompton Greaves
It has broken rising trendline support below 117
Now 117-118 is resistance.
Below 110 likely to touch 106-103.
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Nifty Future
(Updated on 30-08-2012 at 08:00 AM)
Yesterday we indicated 5351 is hurdle zone and
below 5335 slide upto 5323 and
trading below 5018 would take it to 5302-5294.
Nifty fut formed high at 5350 and declined to 5292.50.
Now Today…
5339-5350 is Resistance zone and below
which the short term trend is down.
In upside nifty may move up to that level and then retrace.
Breakout below 5281 may drive even lower up to 5266-5251.
Three daily and weekly Closing below 5280 may
create more downside and likely to touch 5251-5200.
5200 is good support.
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