Buyers beware stage still continues & bottom fishers & averagers are lost in levels, Well the saga of Reliance issues carries on... As our 5071 gave way so as mentioned 4850 / 4900 would be on the cards. Nifty has made a low of 4870, 4730 possible on break of 4850, levels keep coming bottom illusive. Close above 5000 is important from several aspects & otherwise still pain is on. IT pack is strong, whereas Reliance pack causing the most damage to the indices. The weekly gap in the sensex remain unfilled at 18930. Holding 16000 on the sensex is utmost crutial for the bull market trendline to survive
Media heavily playing down heavily on the Power issue in the entire weekend & creating more panic in the market than necessary, all said is nothing new, where were they when the IPO was announced or when it was being subscribed. Operators are on spree of negative news spread.
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