Market Outlook 11/07/08

Market volatility will continue....

As expected it was buying at low and selling at high yesterday also.NIfty will face strong hurdle at 4220-4245 on higher levels today and on lower side 4100 will be the strong support for today.Crude oil prices rebounded by more than $5 to more than $141 a barrel on the New York Mercantile Exchange on another missile test by Iran and worries about more supply disruptions in Nigeria.The Dow Jones industrial average finished up 81.58, at 11,229.02.Oil's resurgence back above $141 a barrel briefly pulled the Dow into negative territory in afternoon trading.Today's Infosys results and inflation data may bring in little volatility though infosys results are expected to be in line with expectations.So, the trading range for today maybe between 4100-4245.Break of this range might be too bullish on upper side and panic on downside.If there is higher opening, then selling will emerge from higher levels.

Stock watch for the day:

Today's calls only for the clients