Monday, July 12, 2010

Is a break out imminent ??

Nifty is all set to move up but one more confirmation is required today. Volumes doesn't confirm a move but the levels might confirm the same. US markets pulled back from the lows last week to close up sharply.

We are still skeptical about global equities in the extreme short term. One should wait and watch before proceeding. We expect US markets to resume sliding again this week. Indian markets on the other hand will be keenly watching the quarterly numbers.

We spotted a pick where heavy insider buying coupled with excellent fundamentals. The stock is undoubtedly a doubler from the current levels