Expiry of April month contract may bring in volatility today and hence caution is required in intraday trading. Although nifty has closed around 5020, it is still positive above 5000 and major resistance is in the range of 5075 and once it crosses that, it will fire towards 5125 range.If nifty breaks 5000, it may test 4990 support and then 4950 strong support.
Stock watch for the day:
ICICI BANK (865): Watch this stock on raise and if unable to cross 878, short it for target 850-840
Thursday, April 24, 2008
Market Outlook 24/04/08
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