July 11, 2008
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NIFTY closes at 4162.20. SENSEX closes at 13,926.24.

NIFTY tested previous session's high as expected and it couldn't move up against the resistance level. NIFTY might set a new trend today. It is a wait and watch day.

Yesterday's high should be convincingly broken. Infosys has provided a decent guidance. Expect a decent rally in IT pack. Good momentum could make NIFTY move above 4240.

4190 to 4220 - Initial resistance Zone. This is the initial hurdle. Next resistance stays near 4400 levels.

4535 is medium term target for NIFTY on the upper side.

Investors, who are averse to risk avoid trading at least for 30 days. Technical analysis may not work well in this market. Markets are driven more by news than technical analysis.

Market is expected to bottom around 3550 to 3800 levels. If this level is broken, then we're in a bear market.

Ranbaxy still remains a long term bet. Target 700+.

If there is a good momentum in IT stocks, expect TCS to move up.