Archives : DAILY MARKET OUTLOOK : 26/05/2010

DAILY MARKET OUTLOOK : 26/05/2010.

Yesterday was a meltdown as the market collapsed under the Eurozone crisis, China worries and now Korea. However the Sensex has just about managed to close above the support line.

The pull-back witnessed in the US market from the lows yesterday has triggered some sort of a pull-back rally in Asia and our market too will participate in it. Our market along with major global markets are in oversold zone and it will not come as a surprise if we witness a pull-back rally.

For today short covering may take the market higher, but sustainability at higher levels will be the key.

Sensex Resistance 16107-16171-16291. Support 15958-15868-15789.

Nifty Resistance 4853-4881-4908. Support 4766-4731-4693.


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