Market Outlook 16/01/08

Market witnessed a huge crash yesterday by breaking all inbetween supports to make a low of 5820 and at the last hour recovered well by short covering and came up to close at 5936 and now onwards, till nifty crosses 6100, it will go on facing selling pressure at every raise.FII'S were heavy sellers yesterday.For today, it will face resistance around 6000 first and if crosses then 6060 is tough resistance to cross.Volatility is the name of the game these day's and people with enough patience and courage will earn well in this market.

Stock watch for the day:

Inox Leisure (184): This stock seems to have bottomed out now after started falling from 240 levels.Buy it around 182 with stop 178 for target 188-193.