Market Outlook 07/02/08

Reliance power is entering the market on 11th of this month and everybody is anxiously waiting for that day and what is in store for the market during that time now is interesting and there seems to be lot of market manipulation going on.Yesterday market was very volatile and opened week and at the end saw some buying and for today also trend seems to be week only and if opens high, there might be selling at higher levels and if opens low, buying might come at lower end.Till 11th of this month this trend might continue without giving any clear direction for the market.Anyhow, for today watch for 5365 trend and if starts moving above that will target 5415 on upper side and selling might come here.If nifty stays below 5365, then it will move down towards 5300 first and then below that will test 5260 again.

Stock watch for the day:

Tisco (799): Watch this stock on the upper side and if fails to cross 816 will face selling and will come down towards 788 first and then 776