Market Outlook 01/09/08

Interesting week ahead

After bullish moves on friday, it will be interesting to see today's moves as again things do look bearish below 4385.On the global front, cues are negative as all eye's seems to be on Hurricane Gustav nearing gulf coast and it's was really horrible when it hit last time around killing people in thousands.This gustav hurricane threat reduced 15 percent of U.S. refining capacity and Light sweet crude for October delivery rose Sunday afternoon $1.62 to $117.08, having earlier reached $118.60 with Dow crashing badly down 171.47 points at 11,543.71.The Nuclear deal is also showing troubles for india as it doesn't seem to sail through softly. For today, if there is down opening, recovery might come later on and on other side, nifty will face heavy resistance around 4385 on higher side and failure to cross will make move towards 4320 support and then 4280.Taking overnight positions have become so difficult these days with uncertainty in the world market.

Stock watch for the day:

Today's calls only for clients