Market Out Look 11-5-2009

On global cues market to open flattish with a positive bias for the first hour of trading, huge volatility is expected for the day.
Buy on decline will be the best strategy fro the next few trading session.
Cautious approach should be maintained till the election result are announced and avoid any huge positions.
Nifty to trade in the range 3500 – 3800 levels, either side break to give a new direction to the market, on the lower side nifty can test 330-3190 and on the higher side nifty can test 3900-4100 levels.

Technically nifty can take support at 3610/3580/3350 and resistance 3650/3690/370 for the day.

Activity is seen in GMR INFRA and GTL INFRA.