TISCO - may melt soon !

The Nifty opened quite weak on global fear over the Goldman Sachs 'fraud'!. In fact I presume it is not the only reason. Somewhere in their heart of hearts, people may have an apprehension whether this is only the tip of the iceberg ? Well, Americans are known for this.

As for the other stock movements, TISCO which has been rising on back of rising steel prices seems to be set for a correction. Delivery based invesstors may actually want to exit and take their profits home.



A Break below Rs 660/- should lead to a fall near to Rs 580-590 in the near term. Positional traders may keep stops near to 690/-. Option traders may want to create strategies on this basis!

The RSI and also other advanced indicators (not shown here) are suggesting higher possibility of Rs 660/- being broken.

Watch out !

Happy Trading

CA Rajiv D Khatlawala
www.investogyan.com