Feb 9, 2009

Bailout Drama like Snake charmer

Bailout drama is like snake charmer, coming to wake up then allowing it to take rest then a big charming, at last giving long rest.

Bailout hopes lifted market last week, need to see if rally can continue or will bulls take some rest with snakes!!
Downside:
If Asian markets open flat or weaker, then Nifty may turn down.
Support levels 2835-2820- 2790-2760.
Upside:
Resistance 2881-2905-2950
Crossing of 2905 can only happen if the world markets are very bullish. Since, what ever the rise happened last week is with low volume, any negative news can trigger faster down movement.
Stock options:
Tata Steel
RNRL
RPL
SAIL
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