Vishwas Agarwal
Market may consolidate over next week: Vishwas Agarwal Technical analyst, Vishwas Agarwal, said that market has crossed 15,750 level on Friday, which was the main hurdle for making new life time high. But later on the market closed on a weak note due to the fall in European stocks led by UK`s third largest lender, Northern Rock, he added. Northern Rock received emergency financing from the Bank of England as the lender found it difficult to finance itself after a freeze in money markets. Investors have taken a cautious decision to book profits ahead of Federal Reserve meeting on Sep. 18, 2007, Agarwal said. He anticipates some consolidation with volatility possible over the next week. Further the Agarwal said that 15,555 is the basic support level, if correction continues then it may touch 15,350. Watch RIL and SBI to catch the trend, he added. Disclaimer Clause: These recommendations are on a technical basis and myiri s.com and the technical analyst are not responsible for any losses suffered. The analyst has no open positions in the above-recommended stocks. Such reports shall only be taken as a source of information.
