Market Outlook 21/04/08

Market is in bullish trend now and now that CRR is hiked, interesting to see the impact in the begining hours.Nifty is having strong support at 4900 and if theer is lower opening today and 4900 is not taken off, strong bounce back is possible and if there is higher opening,selling might come from higher levels.But, market is looking bullish and only news is CRR hike and to see till what extent it can effect the market.Nifty spot has strong resistance at 5035 and if not crossed will fall from higher leevls and if crosses 5100 is also possible today.If nifty falls below 4900 only it will lose strength

Stock watch for the day:

Orchid Chemicals (284):Watch this stock on raise and if fails to clear 296, short it for target 275-265