21-Jun-2009
After having a negative closing week on week we expect the frontline indices to continue the down-trend further if we see down a closing below 4190 on the Nifty. This break-down can take Nifty to the levels of 4000-3920. We would advice traders to go short only below 4190 above which long positions can be built with 4190 as stop-loss. The break below 4190 will further decide the short term trend, but since we have seen correction from 4700 levels some retracement may be witnessed.
Sectors expected to move positive – PSU Banking, Auto
Sectors expected to move negative – Realty, Pvt. Banking
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