9am with Emkay 7 February, 2011

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9am with Emkay

7 February, 2011

n        Technical Comments

After a mild up-move in the initial couple of hours, market saw a huge sell off across the board. It ended with a loss of more than 100 points on close. Since, the previous swing low of 5402 has seen a violation on closing basis, it is possible that Nifty can slide further upto 5320 level, where it will complete the 5-leg of the ongoing corrective wave. However, the medium term view still remains bullish as we are standing bang on at the Golden retracement level (i.e. 61.8%) of the entire move from 4923-6338.

n        Results Today

Anant Raj Inds.	ARSS Infra	Bajaj Hindusthan	BF Utilities	Bharati Shipyard	Century Plyboards
Fortis Health.	Ingersoll-Rand	Jubilant Food.	Lanco Infratech	Mundra Port	Nag. Fert & Chem
Punj Lloyd	S C I