Market Outlook 14/02/08

Market is still moving in the same range between 4800-5000, not breaking on either side.Lower level buying and Higher level selling is witnessed everyday now.Time for long term still hasn't come as market is very volatile and not stable at the moment and might take some more day's to get the clear picture now.It looks like short time rally can extend upto 5100-5250 range.For today, nifty above 4930 will definitely test psychological resistance of 5000 and if crosses then might see 5045 strong resistance very heavy selling might witness again.On downside, below 5000 supports are at 4930 and then 4850.
Stock watch for the day:
Tisco (758):This stock is a buy above 764 for target 780-785.Lower level 744 is support for today.