Nifty moved in a narrow range but clearly on upper side yesterday and till 6110 is saved upward movement will continue and now it is struggling to reach 6200 from here on.Yesterday nifty made a low of 6110 just in support.It will be interesting to see whether it can test this support 6110 again today.Yesterday DOW also closed 101 points down and seeing this, i think reaching 6200 will be a tough task even today also.Moving on upper side, 6180 will be tough resistance for today and downside if 6110 is broken convincingly it might fall to 6080 support area.Still traders have not been participating in full strength.
Stock watch for the day:
RCom (739): This stock is facing resistance around 750 range continuously and for today one can sell it around 750 with stop at 760 for target 735-730
Wednesday, January 2, 2008
Marketoutlook 02/01/08
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