Archives : DAILY MARKET OUTLOOK : 12/05/2008


Market has closed the week below critical levels and looks weak. Since market has closed for five days consecutively in the red, we may test the supports and then the market may stage a small relief rally. BUT use any rally to go short.

Critical Support for the Sensex at 16418 and Nifty in the zone of 4925-4877.

Sensex Support 16620-16567-16418. Resistance 16898-17092-17178.

Nifty Support 4956-4920-4877. Resistance 5022-5077-5112.

Bharat Forge 311 SL 304 Tgt 320-332.

ITC 218 SL 213 Tgt 225-228.

Wipro 500 SL 490 Tgt 510-525.

Nicholas Piramal 344 SL 336 Tgt 354-363.

Gitanjali Gems 279 SL 267 Tgt 293-310.

BASF 225 SL 217 Tgt 236-247.

Todays 78 SL 75 Tgt 84-88.

Webel SL Energy 350 SL 335 Tgt 373-384-397.


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