Market Outlook 09/05/08

High domestic inflation and rising crude prices remain a concern as markets are range bound and choppy all these day's showing uncertain moves.After market falling for 3 days, today it may raise taking 5050 as support and upper side 5110 will be first resistance and then 5150.Higher level selling might come today also, but 5050 might be protected for today and in any case if 5050 gets broken its bad for the market and below 5050, the only strong support is at 4970.These day's markets are not moving much and manipulators are setting up another game here and probably on higher side.

Stock watch for the day:

IFCI (60.85): Pick this stock in small dips with stop loss 59.6 for target 62-63