Nifty is holding 4800 level and giving strength at this point. 4500 level is very near for this bear market. One can think of touching this level again. US market had fallen very sharply on Friday. This will pressurized all global markets. This market will continue to fall below 4800 level also if European market continue to fall and Eurozone crisis had not given sign of recovery. Indian market had showing strength at 4800 level but this will hope of rate cut by RBI. Banking stocks had shown strength for this news.
- State bank of India is stock giving positive since result had positive. This stock will give very strong output for coming days. 2400 is target for this stock if market show pullback from this level. This stock is positive on hope of RBI rate cut action and CRR rate cut. There is disappointment on GDP number. One reason behind this disappointment is tightening of rate bu central bank. RBI will soft their stance on the same is news flowing in market. This will boost banking sector. But Global weakness will another wing of story. If global weakness continues then there will very difficult time for Indian market and break below 4500 level.
- Larsen and Tubro is stock giving strength. After touching 1100 level this stock had pullback from lows. If this continues in all over sentiment then stock will achieve target of 1400 once again.
- Tata Motors is continuously correcting from higher level. This will touch 190 to 200 level before showing strength. After that this stock will again bounce back to 250 level. This stock is another stock which is good candidate for buy on dips.