Archives : DAILY MARKET OUTLOOK : 17/03/2008

As we said, some bounce came on Friday as the market was oversold. But the main trend is down and hence down trend will again resume.
Strong resistance due to the gap at 15873 to 16064. Nifty will find it difficult to cross and close above 4803.
Free fall expected. Experience the thrill of bungee jumping at the start of trade. Use higher levels to short the market or else please stay away from the market. Dont trade.
Sensex Resistance at 15873-16064-16355. Support at 15228-14841-14500-14215.
Nifty Resistance at 4803-4881-4954. Support at 4580-4448-4281.
HLL, RANBAXY & ITC look good. Please dont keep naked open positions. PLEASE HEDGE WITH NIFTY FUTURES.

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