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Nifty may see some profit booking. (Ashwani Gujral,Technical Analyst)
Tuesday, July 17, 2007
The Nifty closed at all time highs for last week, at 4504. Nifty support is 4366, 4430. A further target on the Nifty is now at 4640 and finally 5000. Overall Nifty remains in a strong trend. In terms of sectors, capital goods, infrastructure, metals and banking continue to show consistent strength. We believe that mid cap and small cap will continue to outperform the large cap..
Sectors to avoid continue to be tech, sugar and two wheelers. The market may see profit booking on Monday but any decline towards 4240 would be an opportunity for traders to go long again.
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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.
