RCom - Time for bottom Fishing!!

Nifty movement towards 5050 would have been expected by my participants .. The Nifty shot beyond that level. I expect some resistance near these levels.

(Incidentally the move in Sun Pharma was quite good... given in blogpost dt 5th May)

RCom , like IDEA, seems to be finding buying interest near the previous low of Rs 131/-. a few days back when it hit Rs 131 there was huge buying...



A break above Rs 150 should be considered further positive and target should be near to Rs 168 - 172/- Keep a Rs 10 stoploss from your buying price. . .

As for other sectors, I presume the SUGAR stocks are recovering as expected. But be careful in index heavyweights!

Happy Trading !

CA Rajiv D Khatlawala
www.investogyan.com