Market Outlook 22/09/08

Whole Global Market is zooming..!!

It was a fantastic day of trading on friday as indian market also followed global trend and rallied and closed very bullish.On global front, The Dow Jones industrial average jumped 368.75 points to close at 11,388.44 on friday after U.S government came out to support losing banks and also due to temporary ban on short selling in certain financial stocks.Crude oil which came around $90, started climbing up now and closed at $102.73 .Today DOW is definitely expected to give up most of the gains after 2-3 days of huge rally.In indian market, many stocks are looking hot and if nifty breaks 4265 today, it will directly go towards 4330 resistance and if nifty gets past this then it will face one more resistance at 4355 and then 4380.So, mutiple resistances for nifty above 4265 and below 4265, nifty will face some selling and downward supports are at 4200 and 4160 Higher level be cautious in today's market.

Stock watch for the day:

Today's calls only for clients