: Daily Market Outlook : 1st February, 2008 (Friday)

INSPITE OF SO MUCH VOLATILITY, MARKET EXACTLY TOOK SUPPORT AT OUR LEVEL....JUST CHECK NIFTY TOUCHED 5071 AND REBOUNDED..SO MUCH FOR PRECISION. ALSO NICHOLAS, ZEE AND REI AGRO REACHED THEIR RESP TGTS.


MARKET WAS VERY CHOPPY DUE TO THE F&O EXPIRY. NOW THE MARKET IS VERY LIGHT AND THE COST OF CARRY IS LOW AND HENCE THE MARKET WILL MOVE VERY FAST IN EITHER DIRECTION. CHANCES ARE MARKET WILL MOVE UPTO 5400-5550. KEEP STOP LOSS OF 5070 TO ALL YOUR LONG POSTIONS.

SENSEX RESISTANCE AT 18033-18491-18670-18930. SUPPORT AT 17571-17422-16951.

NIFTY RESISTANCE AT 5257-5360-5403-5550. SUPPORT AT 5116-5070-4910.