After a subdued movement for about a month Nifty has gained some momentum, but volumes are yet to show any strength. There are possibilities of a reversal at the resistance levels. New highs list has been steadily increasing at 31 new highs to 4 new lows. Even here we find the NH-NL index showing good bearish divergence. Some of the stronger stocks are close to reaching their target levels, while there had been many whipsaw trades.
As the result season in fast approaching, it can give a new turn to the stocks which have good earnings. Market undergoes a clear cycle formation and as the new results come in, some new stocks come out big winners. The last season it was Cement Industry. Now as per the industry ranking tables Auto Lcs's and Tyres show promise. The actual picture has to be watched.
As the result season in fast approaching, it can give a new turn to the stocks which have good earnings. Market undergoes a clear cycle formation and as the new results come in, some new stocks come out big winners. The last season it was Cement Industry. Now as per the industry ranking tables Auto Lcs's and Tyres show promise. The actual picture has to be watched.
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