Market is not moving much these day's and trading volume is very less.Higher level is exerting pressure and it looks like market will spend sometime here in this range below 5200 before moving higher in coming day's.For today, if nifty moves above 5110, it may try to hit 5150 a major resistance for today and if fails to break 5150, it will come down to test 5100 again and then 5070.Downside 5045 will be major support to watch out for.Till held, no problem for bulls.
Stock watch for the day:
RCom (585): Short this stock at higher levels with stop loss 606 for lower target 575-565
Tuesday, April 29, 2008
Market Outlook 29/04/08
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