After opening strong, nifty found exact resistance around 5000 leevls and it seems that nifty will play between 4800-5000 for few day's again and then break out in one direction.For today, above 4920 it may retest 4965 level and remain below 4900 it may slide to 4850 support and break of it will test 4820 last support.Again an interesting day ahead for traders and as i said, it seems nifty will move between 4800-5000 range now.
Stock watch for the day:
Cairns (247): Buy this in dips with stop loss 238 for target 256-264.Don't initiate trade below 238.
Thursday, March 13, 2008
Market Outlook 13/03/08
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