Monday, April 21, 2008

Nifty can break 5000 level on Monday

Easing inflationary trend helped banking and realty stocks to rally today. These sectors may continue their uptrend on Monday, also PSU banking sector will get more attention. That the crucial resistance of 5000 in Nifty can be broken on Monday. Crude oil price, which is on the rise, is a concern or we might have seen Nifty testing 5125 level on Thursday itself.

16,200 is a crucial level for Sensex and if markets sustains above this level for next few days then a new bullish trend would be seen and market may go up to 18,000 level. Markets are expected to continue to follow global cues on Monday morning which look positive given the fact that asian markets have opened on a higher note. Stocks to be watched out are GIPCL, Torrent power, Canara Bank, India Cements and Mcleod Russel India.

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