nifty june 24th 2009...

still in short term downtrend.

if closing above 4310 today nifty will brkout from the falling resis tline, thereafter higher highs and higher lows pattern needed to confirm uptrend.

opening bias is positive.

stocks to watch short to medium term on long side ifci, hdfc, recltd, mindtree etc if mkt stays up or breaks out.


lets see how perfectly our supports/resistances again worked:

yahoo chart:


p/e outlook:
on 5th june update i had mentioned about 4.5% upgrade being projected on nifty50 earnings since april end, now further small upgrade takes this figure to about 6.5% over april end. therefore tgts will also get revised upwards.