Market Outlook for 07/12/07

Market Outlook For 07/12/07

No one would have expected nifty to fall to that extent yesterday and nifty even tested strong support at 5920.Yesterday's top will be very important for nifty in next 2,3 day's atleast and if nifty doesn't cross this top created yestedray (6027) then there is danger for the market.For today, nifty will start moving upwards again and will face resistance around 6000 and then 6027 (strong resistance).If nifty crosses 6027, allround buying will emerge.But, in all probability nifty will face higher level selling near 6000 today.On downside, 5920 will still hold strong support and if breaks panic will be created and might take nifty towards 5860 level.

Stock watch for the day:

IFCI: This stock will move towards 109 again today with 105 as support and if 105 is taken out, then first panic will be created in this stock now.Break of 105 might take ifci to 103 (strong support) and then 100

Four Soft: For this stock, 48 is the good support and today if it holds on to 48 , it will move to 52 as first target.