Market OutLook 25-2-2009

Markets to be volatile
Market is expected open higher and ahead of F& O expiry volatile movements will be there. Stock specific activity will be seen and still short position is there in the system and hence market is expected to go up. Traders can sell at higher level with strict stop loss. Technically Nifty can take support at 2700 and 2680 levels and resistance at 2760 and 2790 levels. Maintain a cautious approach in the coming days Nifty can fall further, If trades below 2700 continuously for two days free fall is expected and Nifty touch 2500 levels.