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Hi all
Now nifty has rallied quiet a bit in recent days.
Now we will face major resistance at 3260which is 38.25 retrace of current powerful bear market rally .
Long pepole should get a bit of caution as if unable to cross the 3260 mark we may retrace back to 2860 level.
Technically speaking On daily chart, Nifty is forming an inverted head-and-shoulders pattern, whose neckline is placed at 3,241 and an upside breakout of thisneckline will take Nifty to 3,650 in the near future. Further,the close of Nifty above the 20-day …
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We believe that the Telecommunication sector will outperform the market during the next 6-9 months as at current prices, telecommunication stocks are trading at a discount to the market’s P/E multiple. The average P/E multiple for telecommunication stocks is 10x against the market’s P/E multiple of 13x. Besides, the Indian mobile telecommunication sector continues to be a strong volume-led story with mobile telephone penetration rate still below 30%. We expect the number of mobile subscribers to grow 10% qoq till at least the end of 2010, driven by the availability …
