Market Outlook 25/06/08

Market to witness volatile day of trading today

Yesterday market picked up exactly from where it left and in the later part lost heavily breaking important support again at 4220 and made a low of 4156 near to support at 4150 and then closed around 4200. For today, there might be panic downside opening also and if nifty opens around 4100-4150, don't short blidly as first 30 minutes of trading is crucial and today all news based moves may be seen also.Crude oil prices rose 26 cents to settle at $137.00 a barrel on the New York Mercantile Exchange yesterday. RBI hikes REPO RATE by 50 BPS and CRR by 50 basis points and more important nuclear deal issue may bring in severe volatility in the market today.So, one should be very carefull in booking profits whenever it comes.If nifty breaks above 4220 it will move towards 4260 where heavy selling is expected again and below 4150, sentiments will turn out very weak and nifty may break to 4100 and next 4045 support area.

Stock watch for the day:

Today's calls only for clients