Market outlook for 29th November

29/11/07

Nifty has broken the strong support at 5630 and closed at 5617 is a worrying factor and trend shows downside now and it still remains to be seen whether it is just an expiry effect or not..! monday onwards nifty might show some direction to the market.For today, market will be volatile and remains to be seen whether nifty can get past strong resistance of 5660 in today's volatility and if gets past that then again some buying will emerge or else, selling will come at every raise.Downside, 5560 and then 5500 are the support area.

Stock watch for the day:

OMAXE LTD (411) : This stock looks hot and above 415 will shoot upto 425-435 range and below 415, strong support at 400.Lower opening, buy this stock with stop loss 400

IFCI (88) : This stock will face strong hurdle at 91 today and above that will shoot up to 94-96 and below 91, target is 86-84.