Archives : DAILY MARKET OUTLOOK : 02/07/2008


Markets falling day by day and is now on the brink of collapsing. Panic is already visible. Just look how oversold the market is. Some stocks are at an RSI of 6 and 9....extremely oversold to say the least.

Please remember the market always looks the worst at its bottom. Always Bottoms are created in Panic. May be watch out for today.

Major support for Sensex at 12055-12425 and Nifty at 3630-3554. May be we will be able to hold on to these very important levels. Pray.

Sensex Support 12847-12400-12225-12055. Resistance 13046-13128-13275-13341.

Nifty Support 3811-3768-3657-3630. Resistance 3915-3933-3979-3995.

Sell BRFL 265 SL 273 Tgt 251-240-221.

Sell Sesa Goa 3054 SL 3132 Tgt 2961-2800.

Sell ONGC 793 SL 813 Tgt 768-755-726.

Sell Jindal Steel 1638 SL 1690 Tgt 1596-1541.

Sell RIL 2044 SL 2091 Tgt 2008-1956.

Sell Satyam 432 SL 443 Tgt 420-415.

Sell SRF 114 SL 119 Tgt 107-103.

Sell LIC Hsg 255 SL 263 Tgt 242-233.

Sell HDFC 1838 SL 1894 Tgt 1724-1656.


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