Market Outlook 28/01/08

FII's and DII's have become net buyers now and since then nifty became very bullish moving on the upper side breaking all resistances in between.This thursday is again an expiry day and lots of activity and volatility will be seen in the market.For today, above 5350 nifty will face first and strong resistance around 5465-5475 and if gets past that then 5585 is again one more resistance for today.On downside, break below 5350, supports are at 5300 and then 5250 and if breaks 5250 then we can expect free fall

Stock watch for the day:

Rcom (666): Remain above 652, this stock will fire towards 675-690 today.Below 650, it's not a buy.Don't buy at higher range.