Archives : DAILY MARKET OUTLOOK : 30/05/2008

DAILY MARKET OUTLOOK : 30/05/2008.

Market volatility caught up with the market in the last one hour and the market gave up all its gains and took support at Nifty-4801. Market is certainly feeling uncomfortable because of the uncertainity regarding the fuel price hike.

Please check out yesterdays performance TCS, Tata Chem, Educomp, Neyvelli Lignite, I-Flex, Bharti did exceedingly well. But the Star was RCOM, which reached both higher targets. Yesterday we asked our clients to buy RCOM 560 CALL at Rs.2.50, which went up by astonishing 1000% in a day...to Rs 25. Three cheers to our clients !!!

Market will face selling pressure at higher levels, so use any rally to exit and not to build long positions.

Sensex Resistance 16411-16492-16588-16634. Support 16196-16076-1569.

Nifty Resistance 4867-4891-4929-4947. Support 4801-4767-4747.

Tata Chem 409 SL 401 Tgt 420-430.

L&T 2882 SL 2815 Tgt 2929-3014.

Matrix Labs 187 SL 180 Tgt 195-204.

IFCI 62 SL 59 Tgt 66-69-71.

Guj Alkali 189 SL 185 Tgt 195-197-204.

Educomp 4059 SL 4000 Tgt 4115-4153-4185.

Bhushan Steel 834 SL 807 Tgt 870-893.

McDowell 1632 SL 1598 Tgt 1660-1675.

HCL Tech 309 SL 305 Tgt 314-319.

Cipla 213 SL 208 Tgt 220-224.

Spice Tele 54 SL 53 Tgt 57-60.

Suven Life 38 SL 36 Tgt 41-44.

Dishman Pharma 317 SL 308 Tgt 314-319.

 


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