Market Outlook 13/06/08

How long this Bull Strength will last now...!

Although sentiments are still looking bearish for short term and everyday we seem to have news which will effect the market and everybody must be wondering how long this bulls will show strength..! for today, nifty above 4540 will move towards 4635-a crucial ressitance to watch out for and fail to crossover, selling will emerge and if nifty trades below 4540, it will move towards 4500 first and if breaks then testing of 4465 might be on.In spite of so many bad news also nifty was able to recover from low's yesterday and maybe because of good IIP numbers and ended the day on positive note.Yesterday DOW closed the day with 50 points up and rising crude oil is a problem for the markets and crude rose 36 cents to settle at $136.74 a barrel and today inflation numbers are also coming up and this also may shwo it's effect as it is expected to be higher this time also.Moreover week end might show some selling in the last hour.Be cautious at higher levels today.

Stock watch for the day:
Tisco (856): Watch this stock at higher levels and if doesnt cross 865, short it for lower atregts 840-830.Above 865, it is not a sell