The Union Railway minister Mamta Banerjee is presenti ng RAIL BUDGET 2011 in LOKSABHA.
The important thing to watch is that the railway does not throttle the economy. The factors, which have come in, like increase in diesel price, inflation, disturbances, all these things will continue.
The rail budget will surely throw certain impact on stock market today
Stocks of firms whose fortunes are linked to orders from Indian Railway viz. Stone India, BEML, Titagarh Wagons, Hind Rectifiers, Kernex Microsystems (India), Kalindee Rail Nirman (Engineers), Texmaco and Container Corporation of India -- will be in focus.
Having a look to stock market,NIFTY found bleeding yesterday and dipped to 5262.The bearish trend is continue and I have suggested yesterday not to take any long below 5420 Postionally I had given nifty support at 5400.Today the first resistance for nifty is at 5314-19 level.Next resistance at 5340-43 level.Next resistance at 5362-65 level.Next resistance at 5390-93 level.On downside first support is at 5225-20 level.Next main support at 5197-94 level.Next support at 5163-59 level.Next support at 5149-45 level.
So today better intraday long should be taken only above 5320 and on down side if below 5225-20 level be alert and no intraday long below that level.Major support for nifty is at 5197-94 level and if this level is broken there will be more weakness in coming days.
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