Archives : DAILY MARKET OUTLOOK : 08/05/2008

DAILY MARKET OUTLOOK : 08/05/2008.

Yesterday we said it was important for the Sensex to close above 17400 and Nifty above 4160. Just see yesterdays high for the Sensex was 17413 and for the Nifty was 4159...so much for accuracy.

Market has closed two days consecutively below the 200 dma which is negative for the market. 

Selling at higher levels is advisable. Please hedge your long positions using short Nifty futures.

Sensex Resistance 17413-17487-17629. Support 17221-17095-16978.

Nifty Resistance 5159-5183-5206. Support 5092-5079-5015.

Colgate 448 SL 437 Tgt 467-477.

Praj Ind 199 SL 193 Tgt 208-212.

Bharat Forge 308 SL 301 Tgt 318-322.

Cairn India 278 SL 269 Tgt 289-297.

Hind Oil Exp 152 SL 145 Tgt 157-163.

Patni Comp 276 SL 271 Tgt 283-289.

GE Shipping 458 SL 452 Tgt 466-482.

Bajaj Hind 236 SL 228 Tgt 246-251.

Divis Lab 1454 SL 1423 Tgt 1490-1520.

Welspun Guj 400 SL 393 Tgt 413-417.

Mercator Lines 107 SL 103 Tgt 117-121.

Mastek 368 SL 354 Tgt 378-390.

Everonn 851 SL 820 Tgt 873-884.

IL&FS Invest 187 SL 179 Tgt 200-208-213.

MRO-TEK 80 SL 76 Tgt 86-92.

Omni Tech 173 SL 166 Tgt 182-187.

Todays Writing 76 SL 74 Tgt 82-88.

 


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