Vishwas Agarwal
Banking sectors look strong: Vishwas Agarwal Today (Sep. 26, 2007), the BSE benchmark index, Sensex, touched yet another milestone of 17,000 in the opening bell. The journey from 16 K to this mark was covered in a week`s time. Heavy buying interest and strong Asian cues led the rally. However, the market lost more than 180 points from its day`s high and closed on a flat note. Commenting on this, technical analyst Vishwas Agarwal, said, “As we have seen earlier the correction today came specially in Reliance group stocks“. He further said, “This was expected due to the sharp rise in the stock prices in the recent days“. Giving the future outlook, Vishwas said, “The market will consolidate here for one or two days and will again gain momentum. But this time stocks would be different. Banking sectors look strong in the October F&O series“. The Sensex opened at 16 ,969.45 and then traded flat in the noon trades. Later, the market regained its strength and maintained momentum for a short period to touch an intraday high of 7,073.87. On this Vishwas said, “At 16,750, Sensex has strong support and RIL is having strong support at Rs 2,275 and Rs 2,325“ For Thursday (F&O expiry), Vishwas said “Bank of Rajashthan, GE Shipping, Welspun Gujarat, PNB, ACC, Yes bank and Reliance Capital look good for trading.“ Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability what soever to any user on account of the use of information provided on its website.
