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Stox and More Opening Bell View (1)   15-May-08 08:07Tracked by (0)  
Posted by:   stox & more on ( 15-May-08 08:07 )
SENSEX (16978) found a stellar support yesterday which led to a close above 5000 level in Nifty & 16800 in Sensex.

Dollar has continued to move upwards against major currencies in the world including Indian Rupee. If rupee sustains this level, it will result in increase in the operating margins in IT companies in the coming quarters. Gold continued its weak trend & Crude now is looking to slowing down its up move.


Downside remains limited & one has to be cautious while making positions. Undercurrent is bullish & We rate markets buy on any decline. Volatile & Sideway movement in the near term will be an obvious course of action.

Overall, We are looking to face resistance at 17100, 17350 & support is at 16800, 16500.
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