Eventhough nifty has closed just above 4740, doesn't seem to have enough strength to cross all important major resistance of 4835 and higher level selling is expected again.For today, watch out the openinga nd if nifty opens above 4760 and in all possibility nifty will find its first resistance around 4790 and crossover again resistance at 4820 and every higher level selling is coming these day's.If nifty slides below 4740, then it may slide to 4700 first and then 4670 will be tested again.Intraday is proving to be the best strategy in this type of volatile market.
Stock watch for the day:
Suzlon (303): Buy this stock on dips with stop 288 for targets 310-316.Below 288 it is not a buy
Thursday, April 10, 2008
Market Outlook 10/04/08
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