Nifty after B-day i.e. 7th July 2009

Before market hrs:
* US markets closed mixed with European markets bleeding still.
* Asian markets are trading flat to mildly bullish.
* SGX Nifty is trading weak at 4165 (+9 pt) in the morning.
* TRIN below 1.0.
* RIL saw downward breakout yesterday and so did SBIN.
* Look for recovery in these two followed by other large cap stocks.
* Supports: 4143, 4092 and Resistance: 4250, 4385 levels.
* BUY NF above 4210 for targets 4248/4267/ 4299 with SL of 10-15 pts.
* SELL NF if trades below 4083 for targets 4040/3980 with SL of 10-15 pts.
* Swing reversals: 2 day (4480) and 5 day (4480) - - > DOWN.
* Hold NTPC and PowerGrid for long term. Look to book profits in calls (5-15% return)

End of the day:
* Look for recovery in these two followed by other large cap stocks.
* Nifty held yesterdays low and moved up from that level.
* Hold NTPC and PowerGrid for long term.
* Neutral today as neither buy nor sell levels were activated.
* We saw some action in RIL, SBIN and the like.