Market Outlook 20/08/08

Interesting day of trading ahead....!

It was a volatile day of trading for indian market yesterday and for today, it looks interesting though.On global scenario, cues are negative as The Dow fell 130.84 to 11,348.55, after losing 180 points on Monday. It was the worst two-day performance for the blue-chip index since late June and also Light, sweet crude for September delivery rose $1.66 to settle at $114.53 on the New York Mercantile Exchange, after alternating between positive and negative territory earlier in the day. The September contract expires Wednesday, adding to the volatility.In Indian market yesterday, FII's were net sellars of 475 crores in cash segments .For today, if market opens low, buying might come again from low with 4315 as support and if 4315 is broken, next strong support will be only at 4265.On upper side, nifty will face resistance at 4400 and 4440.So, for today the range to watch out for is 4315-4400.

Stock watch for the day:

Today's calls only for clients