Tuesday, February 22, 2011

Today's......Below.......5527.00 Mark...Once Again..Favours Bears Only...and May Try to Hit........5501.00 and 5483.00 too in Today's Trading Session.

Bulls May Try to Rock the Street.But Only Above..........5530.00 Mark..Above that Mark...

Crude futures rallied Monday along with precious metals Gold and Silver as unrest in Libya raised worries about a potential disruption in oil supplies from the North African nation.

Reliance Industries stock has underperformed the Index from the past one year. The stock defied many analyst predictions of an upmove and here we go with a decent oppurtunity for the stock to prove its mettle. While middle east unrest is a cause for concern, this stock is likely to gain irrespective of the market movement.

Reliance is likely to lead the market rally in the coming days. We believe majority of macro economic negatives are priced at the current levels. Global picture especially Middle East might cause some trouble as Crude Oil is bound to go up. Yesterday's upmove indicates that the news is out in the market prior to the announcement itself