As happened in the last few day's, even if nifty opens a high it is expecetd to face selling at higher levels again.Asian markets are showing strong pull back from lower levels and indian market also might move up first accordingly.The support level to watch for is 5065 on downside and any break below this might take nifty towards 5030-5000 today itself. Now that expiry is also nearing and lots of activities will be seen during this time for sure.On upper side, if nifty clears 5140, it will face resistance around 5180-5200 which will be very strong resistance to watch out for.Above 5200 again it will be test of 5260.Volatility will be high again in coming day's as well. Strong support is 5065 and unless breaks that trend is up now.
Stock watch for the day:
J.P Associates (247): Watch this stock and if remains above 240, will fly to 260-265 today.Below 240 is not a buy.
Monday, February 25, 2008
Market Outlook 25/02/08
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