NIFTY FIFTY

[AMITBE]

Wait for a crossover at 2630 if at all.

 

[AMITBE]

ONGC, Wipro, Sail, M&M are the big losers. Most index counters are down, but the midcaps holding very well.

 

[AMITBE]

A sustainable crossover at 2612 is vital.
2599-2595-2593 are short range supports to the down.

 

[birjubanarasi]

Hi,
Any idea/comments on TCS and WIPRO. What level do u think will be good to enter( for Investing ).

Thanks,
Birju

 

[jaideep]

Hi,
Any idea/comments on TCS and WIPRO. What level do u think will be good to enter( for Investing ).

Thanks,
Birju

You are posting in the wrong thread birjubanarasi. Post this in the appropriate thread under Equities.

 

[AMITBE]

2617 is giving a fight. Over this we will be above an important support for today.

 

[AMITBE]

While 2617 is an important level today, 2620 is a sticky mark from the recent past. Having crossed 2617, the Nifty wasn't able to sustain 2620 though crossed it briefly. The volatility comes from there.
The movement is volatile, yes, but the wider market is not taking a severe beating...yet.
Above 2603 the sentiment may remain like this, but below 2600 will come acute pressure.
Seems comfortable around 2607 for now.

 

[AMITBE]

The levels again if things come to this.
2589-2585-2579-2572.
Some money is being churned around to a few midcap technology counters I track. Must be others too.

 

[AMITBE]

Some may remember from a few days ago the level of 2584-2586. It was mentioned here several times around the time the Nifty was repeatedly attempting this and falling back.
Should this get broken at some point, a deeper fall is likely.
Obviously the Funds, both domestic and foreign must be taking profits from the continual rise in the index stocks over several days. I had mentioned this yesterday, that the index stocks should come in for correction, and perhaps for this reason midcaps are not cracking too badly yet.
Not bad all told. We can now squeeze out of the extreme over bought zone and prepare for the moves ahead.
I do hope the sanctity of 2585 is not violated...too badly, and the players are all aware of this number, so it may survive.

 

[coljaspal]

Keeping our fingers crossed, Amit!