Tuesday, 5 July 2011

Third straight day of consolidation for Indices

Tuesday, July 05, 2011 3:49 PM

Third straight day of consolidation for Indices, Expect a decisive move soon
Indian markets continued to consolidate for the third straight session as Investors gear up for the results season and traders remain cautious. Gainers Today Mahindra Forgings Ltd., GATI  Ltd., Cholamandalam Investment & Finance Co. Ltd., BF Utilities Ltd., Mastek Ltd.,Indowind Energy Ltd., Moil Ltd are among major gainers today. Markets : Consolidation for the third day  Indian markets are consolidating nicely around these levels but the momentum still remained positive. Midcap and smallcap counters outperformed broader markets today. Infosys numbers are likely to set the tone for the markets going forward. Reliance Industries is going through worst of the phases but we are afraid to go short on this stock as the bounce might be equally stunning.

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