Market Outlook 09/01/08

Nifty is very volatile in this range now.For today, if nifty doesn't cross 6360, it will again face selling at higher levels and voaltility will continue for few more day's.Though market breadth looks to be positive, volatility is very high and the trading volume also remained marginally low yesterday.Today watch out for 636o strong resistance on upper side and if doesn't cross watch out for supports at 6240 and 6220.If nifty breaks 6220, selling might be little faster also.So, watch out for 6220-6360 trading range now.If nifty crosses 6360, then it will be only one sided today

Stock watch for the day:

Orchid Chemicals (304): Watch 310 in this stock on upper side and if doesn't cross 310, then it will come down to hit 295 today.Above 310, it will move up again.So, only below 310 it is a sell