Selling pressure likely to extend and little recover possible if volume supports
Stocks on Dalal Street are likely to be flat with negative bias from sharp losses that have occurred in the last hour of trade. Expect the Sensex to trade plus or minus 100 points or nearly 1 percent for the day. Textile stocks might spurt on the news that the textile industry would get Rs 2,546 crore as subsidy under the Technology Upgradation Fund Scheme within three days, this is likely to help the capital- starved industry. Arvind Mills and Alok textiles might see some demand on this news. Some Midcaps were on fire even in a falling market.Hindustan Oil Exploration and Selan Exploration making some handy gains.GATI Ltd, KIC Metaliks, Reliance Communications and Genus Powere are some of the stocks to watch out in today's trade. "USE EVERY RISE TO BOOK PROFITS" "ALWAYS KEEP STRICT STOPLOSS TO AVOID HUGE LOSS" Key Levels for Today Trade: NIFTY INDEX Resistance : 4636 / 4680 / 4694 / 4711 NIFTY INDEX Support : 4564 / 4518 / 4469 / 4502 / 4424 Mean :4600 Key Numbers for NIFTY on upside 4636 / 4694 Key numbers for NIFTY on down side 4564 / 4518 / 4469 BANK NIFTY INDEX Resistance: 7541 / 7611 / 7681 BANK NIFTY INDEX Support : 7382 / 7280 / 7186 / 7092 Mean : 7461.5 Previous Close Box: BSE Sensex 15514.03 -389.80 NSE Nifty 4585.50 -108.65 USD Rs.47.75 Oil Nymex $71.86 B.Karthick Research Analyst --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
