Market Out Look 20-4-2009

Market to open flattish and came under selling pressure with volatile for the day.
The F & O figures too gives the weakness in the market. The 200 DMA has confirmed to be a strong resistance for the nifty and unable to hold above this level, to sustain the current rally nifty has to trade above 3450 level.

With the major result announcements stocks specific activity can be seen in the market.

For the next one month traders are advised to be cautious in the marketand during this period nifty to be in the range 3190-3500 a cut either side to give new direction to the market.

Fertilizer stocks to be more active in the coming days, Watch for Chambal Fert ,Nag Fert and Binal Agro for short- term gains.

Technically nifty to take support at 3352/3310/3215 and resistance at 3412/3450/3490 levels for the day.

Have nice trading day.