Value Buying can Bring Markets into Green: Vishwas Agarwal
Bears continued their domination over buying and selling action on Thursday. Strengthening of existing bearish response on Friday is likely to fetch other stocks in their favor. In contrast, optimistic response on Friday is expected to alter the current outlook.
In spite of the tough basics, Indian market is affected gravely on ongoing US subprime disaster in conjunction with political disputes on nuke contract issue between the Congress and Left parties, added technical analyst, Vishwas Agarwal.
Mr. Agarwal thinks that Indian market will start disregarding US subprime situation and value buying will bring a fresh movement in stock markets. He anticipates much more actions in frontline and general quality midcap stocks, particularly in power & banking stocks.
After NSE Nifty 4,286 basic level, Agarwal auspicates support levels at 4,056 and 3,976. Between these two levels, the stock market will stop descending and will regain atleast 50% of entire fall.
