Daily trend of the market is down.
All the world markets are taking counter rally and have gone up around 20% from their lows. Indian Stock Markets has also gone up more than 20% from their lows, which is showing that technically a temporary bottom has been made. RBI’s decision to bring down CRR and repo rates will infuse the much wanted liquidity in the market. We expect a strong opening on Monday. But till Nifty does not close above 3300, we will not call our market in uptrend. However expect the market to remain volatile.
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Percentage above support
Percentage above support is still below 50% (today it is 5%) so we recommend that no delivery should be bought at current levels.
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Strong Futures
This is list of 10 Strong Futures: GTL, Sterling Bio, Bhushan Steel, Titan, Indian Bank, Infosys, Hotel Leela, Satyam, Bhel & Dabur
Weak Futures
This is the list of 10 Weak Futures: Unitech, Jet Airways, Parsvnath, Gitanjali, Briade, Jindal Stainless, Ivrprime, United Phos, Purva & Suzlon
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