Archives : DAILY MARKET OUTLOOK : 29/05/2008

DAILY MARKET OUTLOOK : 29/05/2008.

Yesterday Short covering forced the bears to run for cover. Short covering will be the theme for today. Volatility will be very high today as it is the expiry. Rise may be used to exit from the trapped long positions. Be cautious & Trade less.

Just check yesterday the Nifty once again took support at exactly the level mentioned by us. Also the short SELL calls on L&T, SBI, Gitanjali and Sun TV did well. BUY calls for Tata Chem, Nalco, Satyam, Aban, Bharti and Mphasis BFL did really well to achieve their targets. 

Sensex Resistance 16589-16626-16683-16875. Support 16379-16251-16217.

Nifty Resistance 4932-4970-4991-5025. Support 4880-4855-4835.

Educomp 4092 SL 4060 Tgt 4165-4185-4212.

TCS 1009 SL 997 Tgt 1022-1035-1045.

Bharti 884 SL 872 Tgt 904-924.

Tata Chem 409 SL 398 Tgt 421-430.

Nalco 552 SL 545 Tgt 564-570.

Neyvelli Lignite 145 SL 142 Tgt 149-155.

NIIT Ltd 106 SL 103 Tgt 111-116.

Aptech 238 SL 232 Tgt 246-252.

NIIT Tech 148 SL 144 Tgt 155-161.

Chambal Fert 88 SL 84 Tgt 93-96.

RCom 551 SL 544 Tgt 562-568-573.

Pantaloon Ret 453 SL 446 Tgt 464-472.

I-Flex 1393 SL 1373 Tgt 1439-1449.

Grasim 2235 SL 2205 Tgt 2320-2339.

Spice Tele 54 SL 51 Tgt 57-60.

 


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