The market is seeing positive sentiment and seems to be discounting all negative news as Nifty managed to close above 5100 yesterday with reliance indutries leading the pack and now facing a very crucial big resistance at 5190 and if gets past it, then nifty might move to 5400-5500 staright and if not may come down.For today, nifty above 5100 the crucial resistance will be at 5190 only and selling might emerge there and 5100 might be tested and on lower side nifty below 5100 there is a supper support at 5050 which is a very strong support now.Mondays trading holiday also may bring in some selling in the final hour of trading today.
Stock watch for the day:
IFCI (63): Buy this at dips with stop loss 62 for target 64-65
Friday, May 16, 2008
Market Outlook 16/05/08
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