Market Outlook 18/03/08

Now the real testing time has come for indian market and on downside the only strong support will be at 4440 and unless market opens below 4440, this support may not be broken.The whole world market is in panic now and for indian market 4440 holds the key and at any cost if it breaks 4440, it will be total panic.For today, nifty above 4500 will aim for 4560 and then 4610 ressitance and if crosses that, allround buying will come.On downside, below 4500 last strongest support is at 4440 and will be the key for market direction.

Stock watch for the day:

J.P Associates (207): Buy this stock with stop loss 202 for target 215-222

Caution: If nifty breaks 4440, be cautious in staying in buy mode.