Market Outlook 25/08/08

Market may open higher today

After opening low, indian market recovered well and also closed in positive zone and well set to make highs today.On global front, cue are very positive.The Dow rose 197.85 to 11,628.06, near its highs of the session.Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand.U.S. crude fell $6.59 to settle at $114.59 a barrel - the biggest fall in percentage terms since December 27, 2004.For today, nifty above 4330 will face first hurdle at 4380 and cross over will invite heavy buying.Support for nifty is at 4290.It's a buy at every dips today.Still come concerns are there for indian market as RBI may take crucial steps again fro controlling higher inflation and of NSG meeting which is still not concluded.But for today, sentiments are very positive.Tata Motors may be volatile today because of its problems in west bengal.

Stock watch for the day:

Adlabs (502):-Buy this stock with stop loss 495 for target 515-525