Market Outlook 10/12/08

Uncertainity in the market movements

Market witnessed choppy movements on monday and facing pressure at higher ends.On global scenario, DOW jones has crashed 242.85 to close at 8691.33 showing uncertainty prevailing in the market.In indian market today, if nifty gets past 2800, it will again test 2850 resistance and if stays above 2850 with volume, then chances of hitting 2900 is bright.But higher level uncertainity is still continuing here also.If nifty stays below 2800, it will first test 2740 support and then 2675 and if breaks 2675 any time, it may go to 2600 staright...! Overall an interesting day of trading today as market also resuming after a day's holiday.