Daily Market Outlook : 21st April, 2008 (Monday)

RBI hiked CRR by 50 bps. This move was expected as inflation kept higher above 7% for two weeks in a row. CRR hike thus discounted, so any dip will provide a buying opportunity.Now market is waiting for RBI policy which will come next week.

.Sensex Resistance at 16553-16832-17227. Support at 16481-16397-16313-16128-16093.

Nifty Resistance at 4984-5023-5070. Support at 4942-4904-4872-4784.