Buying In Reliance Industries Is The Best Bet
Yesterday’s trading action witnessed unstable movement. But, the reaction reading of the tradable counters remains optimistic. Today’s bear move is expected to modify the response in their favor. In contrast, the existing upbeat sentiment is ready to be further strengthened.
The composition and the position of the top 10 tradable list experienced minor alterations. Bank of India made its way to top 10 list obtruding Satyam. BOI occupied last place in the list.
Reliance Industries and Tata Steel exchanged their places. ICICI Bank and Hindalco moved one step up in the list. The short term exit levels for ONGC and Satyam are placed at 877.65 and 471.55 correspondingly.
Apart from Reliance Capital, Reliance Industries, Hindalco and Bank of India, all other counters in the top 10 tradable list are rising upward. In the uptrend counters, SBI and Tata Steel are expected to be under risk for today’s trading. In contrast, bull domination on Friday is expected to end all the downtrend counters in the list.
Buying opportunities are likely to exist in Reliance Capital, Reliance Industries, Hindalco and Bank of India for today's trading. Selling opportunities are likely to exist in SBI and Tata Steel.
The best is likely to be buying in Reliance Capital. This counter is in sideways. Bull move on Friday is likely to initiate fresh uptrend in this counter.