Market Outlook for 21/11/07

21/11/07

Market Outlook
As expected, nifty crashed and fell to 5750 level which is again a minor support now and if not broken, market will remain positive today.I had told before that monday will be trend decider and it proved out to be as nifty failed to cross 6000 on monday.Today, nifty will pull up a bit and higher level selling will come again around 5830-5860 and if moves above 5860, over all buying will come again.As nifty is showing multiple resistances around 5950-6000 range show's how strong 6000 reisistance is now and anytime nifty crosses 6012, we are in for another 250-300 points upside in nifty.Till then enjoy the volatility.Now, below 5750 support, nifty has one more support at 5660 range and break below that may be straight to 5500.Let's see how the things will turn out here onwards.

Stock watch for the day:

Rcom- This stock is showing some weekness since some day's now and today if it starts falling below 710, it will fall towards 695-685 and remain above 710, it will move near to 727 which is the toughest resistance to cross today and if crosses, then might blast to 736-743