Thursday, 6 November 2008

Relief rally over; mkts may retest Oct lows: Daryl Guppy

Daryl Guppy, Founder and Director,, said the relief rally that took place in global markets has stalled and that markets may retest lows. The Sensex may retest levels of 7,500-8,500, and if it goes below that, it may test 6,000, Guppy said, adding that the Nifty could test 2,500, but major support exists only at 2,200.

Guppy believes the lows seen in October didn’t coincide with long-term supports and that markets will trade lower than those.

Source: Moneycontrol

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