Market Outlook 31/03/08

Market has moved up too much in the last hour of trading even though inflation result came as high and nifty even made a high of 4976 and this may be a trap also and as i told you 5000-5020 resistance will be very tough to crossover and nifty may again be volatile today as also today is the last day of financial year.So, there may be lots of activity in the market.Below 5000, nifty will be weak and if nifty starts sliding below 4900, it will again try for 4850 support and if it breaks 4850, then next stop might be around 4790.Overall, volatile day is expected today.

Stock watch for the day:

ICICI BANK (835): Short this stock on raise with stop loss 856 for target 825.If moves above 855, it may turn volatile.