Market Outlook for 31/12/07

Nifty still playing in a range and facing 6110 as stiff resistance and unless it gets past 6110 resistance and stays above that nifty will remain week only and once it gets past 6110, buying will emerge and might take it to 6150 first and if nifty still doesn't cross 6110, then weekness will continue and on downside 6040 and 6000 are good supports.Nifty might also play in a narrow range for a day or two.New-Year might show definite direction to the market.

Stock watch for the day:

G.E Shipping (561): This stock is very strong above 549 now and above 549 it will hit 570-580 today.