Market outlook for 12/12/07

12/12/07

FED rate cut of 25 BPS is a positive news for the market now and there might be a gap up opening also.If nifty crosses 6100, then the near term target for nifty is around 6400 and 6100-6000 will act as a strong support for coming day's.For today, nifty will have strong support at 6040.On upper side, if nifty crosses 6110, in all probability 6150 will be tested and if nifty remains below 6110, there will be selling today.Even if there is higher opening, there will be selling at higher levels.So, watch out for levels 6110-6150 on upper side and 6040 on lower side.

Stock watch for the day:

Glaxo Industries (1025): Buy this stock only if 1015 is held for targets 1050 -1065 today.