Yesterday: The Indian stock market opened weak as predicted but managed to close flat. Third Quarterly results of many big companies were disclosed like Bharti Airtel and Reliance Industries (RIL).  Bharti Airtel showed good profits and its profit jumped to 15.26% as compared Q3 last year.  Reliance Industries net profit was down by 9.8% compared to last year, but still numbers were better than expected.

Today: the market is still weak but ril good result can cause short-covering really. But take some position only when market moves above 9130.

BSE Sensex: (8814) The target for the Sensex is 7800 and the resistance to the up move is at 8950-9080

NSE Nifty: (2714) the target for the Nifty is at 2686-2500 and the resistance to the up move is at 2760-2780

Data to Watch: Global Market, Bank Results.

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