Market View 21 Feb 2008

A RELIEF RALLY ........

As saying from last many days markets will see some profit booking from higher levels around 18400 - 18500 & can retest 17900 & 17400 lvls the same for nifty is 5250 & 5100.
Any close below 17900 ( 5250 ) wil take indices to 17400 ( 5100 ) , the same is happening in last many days.

Sensex ( 17618 ) Today a relief rally wil come in markets based on global market cues but this can be counted as an dead cat bounce only & can retest 17900 ( 5225 - 5250 ) lvls, for fresh upper side we should close abv 17900 (5250 ) lvls then only we see 18300.

In Yesterdays artilce on this website we had asked u too book profits in Reliance pack, Banking & Engineering stocks.

We had asked our Private clients to buy for short term IT & Software stocks on 18th FEB 2008 like Tcs, Infosys, Tech mahindra etc.......

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