Market Outlook 09/04/08

Although nifty closed around 4700, 4740 still a major hurdle and if fails to cross 4740 then nifty will go down to test 4670 first and then 4630 levels today.If nifty moves above 4740 also upside seems to be limited around 4800.Positioinal trades are becoming dangerous day by day and only intraday seems to be perfect in this market condition.In whatever dips, 4440 is the strongest support on downside and one can expect 800-1000 points rally from any downside near to that.

Stock watch for the day:

TCS (887): Short this with stop loss 908 for lower targets 870-860