Monday, 18 July 2011

4700 levels might support Nifty

Wednesday, Oct 05, 2011 8:25 AM

Japanese shares fall, with heavyweight Fast Retailing dropping on downbeat sales results, but Australia sees gains for banks and energy shares.. 

Redbull News Bytes

* Moody's downgrades SBI on capital, NPA concerns
* Maran may again raise stake in SpiceJet
* PVR readies Rs 580-cr expansion plan
* Ashok Leyland sales slip 17% in September
* Tilaknagar Ind buys Punjab Expo Breveries
* Nalco seals deal for Indonesian power plant
* New packages from Dish TV
* GVK defers expansion of 2 gas-based plants
Markets - At crossroads
Indian equities are trading inline with global markets. With Nifty at critical levels, Investors should wait for the ferocity of the pull back. While a pull back to 4850 levels look imminent, the markets are still not out of the woods.
Many midcap and smallcap counters look good but still prone to more correction. Banks look weak on the back of Moody's downgrade of SBI.

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