Post-open outlook(18-03-2011)
Sentiment hampered after news of RIL letter to DGH regarding pulling down production,lead Indian markets to tank through moving 3.6% down. No respite and relief from negative news in 2011. Last hope of Indian markets long term turning up is Nifty sustaing above 5400 amid most devastating news and now trading near 5400 again. Although Nifty got support at 5400 three times in last 10 sessions and it has turned strong support also but it is not guaranteed that Nifty will get support again this time and will not slip below it.
First get confirmation that Nifty got support again near 5400 then go long. Let confirmation come then will be posted accordingly.
Sentiment hampered after news of RIL letter to DGH regarding pulling down production,lead Indian markets to tank through moving 3.6% down. No respite and relief from negative news in 2011. Last hope of Indian markets long term turning up is Nifty sustaing above 5400 amid most devastating news and now trading near 5400 again. Although Nifty got support at 5400 three times in last 10 sessions and it has turned strong support also but it is not guaranteed that Nifty will get support again this time and will not slip below it.
First get confirmation that Nifty got support again near 5400 then go long. Let confirmation come then will be posted accordingly.