Nifty ended the day with bearish note and selling may also well continue today also.There may be gap down opening also today, so watch out.Nifty below 5100 will remain weak and will test 5040 downside support and if breaks this support, then only strong support is at 4970.Yesterday U.S markets also closed in red and this will also effect indian market now and next week expiry also will bring in lot of volatility here for sure.Even global cues are not positive added with raising crude problems, which is definitely a big concern now.
Stock watch for the day:
Punjab Lloyd (340): Short this stock on raise with stop loss 350 for targets 334-326
Wednesday, May 21, 2008
Market Outlook 21/05/08
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