Monday, November 20, 2006

Stock Markets Bounces Back

Indian Stock Markets made a smart recovery yesterday. It was a run with a considerable buying in the front liners. The telecom and IT stocks participated well in the bounce back. Markets are expected to consolidate around these levels with most global markets in intermediate uptrends and most major global markets in major uptrends now. There could be some volatality during the consolidation phase.

With a strong support and reversal at 3840 Nifty could trade within a range of 3800 to 3870 and targeted at 3900 levels.

1 comment:

InvestSound said...

Indian Stock Markets have always seen an uptrend in november-december. After yesterdays fall and bounce back, today markets are trading in green. Some analysts feel that Nifty may test a level of 3825 this week. With all the global markets in intermediate or uptrend, this seems possible.

Though the indices are trading in a upward direction, the midcaps and smallcaps are not participating in the run.

Overall the market could be little volatile and may see more buying at lower levels in front liners in banking, auto and FMCG.