Archives : DAILY MARKET OUTLOOK : 26/06/2008


Market trying to pull back on back of some shortcovering. Please dont allow yourself to be fooled by assuming that this rally will hold. It is only a shortcovering rally. Please see the July futures discount of more than 47 points.

One day of bounce will certainly not make a change in the trend. I feel the downtrend will continue. So please dont fall in the trap. If you are not able to understand or follow then please stay away for today, as volatility will be very high.

Sensex Resistance 14276-14368-14429-14519. Support 14120-14061-14020-13943-13853.

Nifty Resistance 4276-4293-4315-4351. Support 4206-4192-4133-4093.

Buy JSW steel 1005 SL 985 Tgt 1028-1045.

Buy Century Textiles 581 SL 570 Tgt 597-605.

Buy Bombay Dyeing 672 SL 659 Tgt 704-724.

Buy RCom 508 SL 497 Tgt 515-520.

Please note that even above mentioned items may come down in the afternoon trade. So better go short at higher levels. All the Best.

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