Today, nifty will face resistance around 5260 and below that it will remain week and above that will target 5300.If nifty doesn't cross 5260, it will definitely slide and watch for the supports at 5200 first and then straight to 5140 support and if breaks 5140, then 5070 will be very very strong support.It might take a day or two to understand the budget and then react accordingly and setttle in a range.Volatility has become a part of indian market these day's.So, even if market goes up, it will face selling at higher levels.There might be a gap down opening also today, as opening itself is very unpredictable today..So, watch out.
Stock watch for the day:
Essar Oil (259): Watch this stock as it has just started gaining momentun and if remains above 250, it will blast to 270 today and below 250 it is not a buy.
Monday, March 3, 2008
Market Outlook 03/03/08
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