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Market Outlook - Short Term

Nifty may not see 4000 mark again !!!! (230) 06-Aug-08 00:34

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Posted by: abyphilip on ( 06-Aug-08 00:34 )

True Patience. We did go through similar situation when NIFTY was near 5200 last time around. Any movement above 4700-4800 could be only because of Crude coming close to 100 USD & NSG quickly clearing the nuclear deal. The continuing fall in crude prices might help wall street in the ST. Bellwether Cisco is announcing Quarterly results today. Chambers was one of the few to cry foul during last Oct which led to steep fall of Tech stocks. Hope the results will exceed or meet market expectations. Else wallstreet will not be able to sustain today's good 2.5% climb. Amar Singh has written to SEBI that RIL-RPL is doing insider trading. He is upto something, openly holding hands with his ADAG pal. Hope the court will conclude on RNRL-RIL case tomorrow. If the decision is again RIL, they could lose between $600-800 million per annum. I've started booking profits to avoid getting stuck above 4500. Regards, Aby

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