Atlast nifty broke the strong support at 5070, but surprisingly made a low of just 5055 and overall heavy buying resulted in taking nifty to a high of 5212 and within one day market again looking good now ! Anyways, for today 5260 is one resistance and if crosses that , then it will aim for 5300 and then 5310.On downside, below 5200, nifty has support at 5160 and if breaks that 5100 will be very strong support.So, overall makes an interesting day today.Some selling might come from higher levels.
Stock watch for the day:
Essar Oil:Watch this stock which has support at 229 and above 236 will fly to 242-245.Below 229, it is not a buy.
Tuesday, February 26, 2008
Market Outlook 26/02/08
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