So, nifty bounced back from lower opening as told here yesterday and now first crucial resistance would be 5050 and then next resistance is at 5100 and the most important and crucial resistance will be at 5190 and if nifty doesn't get past this, 4700-4800 target is sure and this may be just short covering in that case.Yesterday there was a lower opening and today there might be gap up opening and in that case some selling might come from higher levels.On downside, 4970 will be strong support for today.
Stock watch for the day:
Arvind Mills (51.3): Buy this with stop loss 50 for target 53-55
Tuesday, May 13, 2008
Market Outlook 13/05/08
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