Good morning
Nifty: Resistance 2770/2807 Support 2725/2690/2660
On friday Nifty gave a good swings on both sides & finally closed -17 pts @ 2763.65. On friday GDP was announced, it was @ 5.3 % in the 3rd quarter ended December 2008 were much lower than the expected growth. It was down sharply from a GDP growth of 7.6% in the 2nd quarter . Also we have RIL-RPL merger news on cards, so alot of volatility would be witnessed in this counter, so avoid it. RPL could be hammered if any unfavourable news comes in. Eyes on 2660 on Nifty on downside. Closing below 2620 may lead to 2507 zone.
Reliance industries and reliance petroleum - swap raito to be 16:1(1 share of RIL for every 16 shares held in RPL)
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