As expected and told nifty tested 5000 and bounced back and now if nifty stays above 5000, it will first test 5070 and if crosses then 5120 resistance, where some selling might emerge again.so, for today 5070 and 5120 are crucial ressitances and on downside below 5000, 4970 will be very strong support and very very difficult to break this today.Moreover, today being last day of the week and announcement of inflation numbers might also bring in volatility in the market.
Stock watch for the day:
RCom (586): Buy this stock in dips with stop loss 578 for target 590-595.Below 578, it is not a buy.
Friday, May 23, 2008
Market Outlook 23/05/08
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment