We believe that weakness would continue till Nifty finds some support around 3,000 level. However, a V-shaped recovery is highly unlikely as the buying by insurance companies and mutual funds will not be able to offset the heavy selling by FIIs.
Nifty Support and Resistant Levels:
Nifty 3240/3000 and 3420/3660.
Nifty Support and Resistant Levels:
Nifty 3240/3000 and 3420/3660.
Recommendations for 13-10-2008
Buy ICICIBANK 420CA @ 20- 22 Target 50 or Above. Stop loss 15/-.