Market Out Look 29-4-2009

As nifty is unable to sustain the 3450 levels further weakness can be seen in today’s trading and strong support for nifty is at 3300, a break below 3300 can take nifty down to 3250 levels.

Huge volatility is expected being the settlement day in F & O, traders are advised to be cautious at higher levels and has to book profits at regular intervals.

Nifty to trade in the range of 3190-3450 in the next few trading session, A break either side will give a new direction to the market.

The 3250-3190 level can be considered as a buying opportunity in the large cap stocks.

Buying opportunity can be seen in Fertilizer stocks at lower levels. Watch for chambal and Nag fert for short-term gains and buying is seen idea cell.

Technically nifty can take support at 3325/3305/3255 and resistance at 3390/3410/3440 for the day.