Even though nifty recovered from low, movement was not satisfactory and also it just closed above 5100 and for today we can expect another round of selling and nifty might well test 5050-5000 today.Above 5100, 5140 will be very big resistance for today and if crosses final hurdle will be at 5190-which is impossible today.There maybe a gap down opening today also or else expect selling to come severely around 5130 level.Downside, very very strong support exists at 4970 level.Watch out volatile trading day today on downside.Moreover, even U.S markets closed 200 points down yesterday and will also impact indian market today and looks like DOW has enterd bearish phase again as it broke down important supports.
Stock watch for the day:
Stock watch for the day
Thursday, May 22, 2008
Market Outlook 22/05/08
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