Market OutLook 2-3-2009

The way global markets are falling, we will see a gap downside opening today. Expect huge volatile due to the RIL –RPL merger, this is what they have been doing in the past and it is not new to Reliance. But this merger looks something fishy. Initially this will help RIL. Technically today Nifty will take support 2675 and 2640 levels and resistance at 2760 and 2790 levels. If Nifty breaks below 2635 expect further fall till 2580 levels.