Monday, May 12, 2008

Daily Market Outlook : 12th May 2008 (Monday)

Market has closed the week below critical levels and looks weak. Since market has closed for five days consecutively in the red, we may test the supports and then the market may stage a small relief rally. BUT use any rally to go short.

Critical Support for the Sensex at 16418 and Nifty in the zone of 4925-4877.

Sensex Support 16620-16567-16418. Resistance 16898-17092-17178.

Nifty Support 4956-4920-4877. Resistance 5022-5077-5112.

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