Last Week, Market Sentiment had been dampened in 1st half of the week following De-Rating of SBI by Moody's over its deteriorating asset quality causing Nifty to once again re-test sub-4700 twice & then on friday bounced back to 4900 levels on A/C of relief rally in Global Markets on Wed & Thursday.
Markets are poised crucially after trading rangebound in last few weeks & clear trend is likely to emerge this week with 3 I's namely Infosys Q2 results & IIP dats on 12th Oct and Inflation data on 14th Oct.
Also keep an eye on Telecom Sector Stocks as Telecom Minister Kapil Sibal will unveil a draft of Government's new National Telecommunications Policy on Monday, 10th Oct 2011.
Nifty Future faces critical resistance around 4984-5004 area.
Further Pullback upto 5098/5165 would be witnessed only if 5004 is crossed & Nifty Fut closes above it.
If fails to cross abv 5004, will be in a trading range 4774-5004.
Strong Support lies @ 4776-4780 as Nifty has bounced several times from sub-4750 area & Panic selling upto 4561 / 4365 could be witnessed if this this time Nifty Fut breaches & closes below 4774.
Regards,
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Team Market View Investments.
Mo : 9987750901.
Visit www.mktviews-nifty50.blogspot.com
Yahoo Online Support : Marketview@ymail.com
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