Monday, June 2, 2008
Markets on 02Jun08
Friday was an interesting day with GDP and inflation data being released. GDP data was better than expected and therefore despite higher inflation data, markets closed on a positive note.
For Monday, GMR Infra looks bullish on charts, immediate targets of 141. JP associates looks bearish because it broke support of 214 on Friday. However, both GMR Infra and JP Associates appear to be in the oversold region. For medium/long term investors, both stocks offer good buying opportunity at current levels.
Another stock that looks extremely attractive at current levels is RPL. However, with RPL is a favorite of operators/punters so one needs to be cautious while investing.
RIL has been quite a surprise with it falling in the past two trading sessions and continues to look weak. Good levels to accumulate this stock for the long term.
Key support and resistance for today seen at 4800/4950.
For Monday, GMR Infra looks bullish on charts, immediate targets of 141. JP associates looks bearish because it broke support of 214 on Friday. However, both GMR Infra and JP Associates appear to be in the oversold region. For medium/long term investors, both stocks offer good buying opportunity at current levels.
Another stock that looks extremely attractive at current levels is RPL. However, with RPL is a favorite of operators/punters so one needs to be cautious while investing.
RIL has been quite a surprise with it falling in the past two trading sessions and continues to look weak. Good levels to accumulate this stock for the long term.
Key support and resistance for today seen at 4800/4950.
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