Friday, July 24, 2009

Where is Nifty/Sensex headed in short term?

Today the Sensex closed at 15378.96, with a gain of 147.92 and Nifty at 4568.55 with a gain of 44.80, which brings us to an interesting point. If Sensex and Nifty are able to clearly break out the earlier levels of 15580 and 4689 respectively next week, the bullish phase is bound to continue.
However RIL Q1 net is down by 13%; experts expect the stock to correct on Monday. Since RIL is a major contributor to the Sensex and Nifty, I see a correction happening next week, which slims the chances of bull run continuing.More so I expect the SENSEX to be in a trading range between 13500 and 15500. and Nifty to be between 4000 and 4600. However individual IT, Infra , Metal stocks, especially midcap stocks may continue to go higher till the earnings season is on.

Disclaimer: No one can accurately predict the market 100% of the time. The above is purely my view, please do your due diligence before taking any action.Happy trading !

No comments:


Click here to submit your site to the search engines for free!

Free Advertising