Daily Market Outlook : 8th February, 2008 (Friday)

MARKET CORRECTED AND CLOSED BELOW THE NIFTY LEVEL OF 5252 AND SO IT WENT INTO A TAILSPIN AND IS NOW CLOSE TO TESTING THE SUPPORTS AT 5071 AND 4960.

INSPITE OF WEAK MARKET CONDITIONS, MAJORITY OF OUR RECOMMENDATIONS ACHIEVED THEIR TARGETS YESTERDAY ITSELF. LANCO, ISPAT, ARVIND MILLS, WWIL, JPHYDRO, LOK HOUSING, NAG FERT, CHAMBAL FERT AND WHIRLPOOL TO NAME A FEW.

TODAY THE MARKET WILL BE VOLATILE TO SAY THE LEAST. MARKET IS IN A NO TRADE ZONE. BEST IS TO AVOID TRADING AND SEE IF ANY POSITIONS CAN BE TAKEN AFTER SOME CLARITY EMERGES IN THE AFTERNOON.

SENSEX RESISTANCE AT 17692-17812-18198. SUPPORT AT 17417-17368-17113-16818.

NIFTY RESISTANCE AT 5177-5220-5344. SUPPORT AT 5071-4996-4960-4867.