Market Out Look 21-05-2009

On global cues our market is expected to open negative and selling pressure to continue in the large cap stocks for the day.

Nifty to trade in the range 4100 – 4450 for the next few trading sessions, a break either side to give new direction to the market in short run.

Nifty has a strong support at 4180 levels a close below this can drag the nifty to 3950 levels.

Activity to be seen in the mid cap still many mid caps stocks are available at fair valuations.

Nifty can take support at 4240/4210/4180 and resistance at 4290/4324/44360 for the day.

Activities are seen in Anil Ambani’s group shares. Watch for RNRL and RCOM.

I am still long in Fsl , Noida toll,Idea and Zicom.Today will be adding Chambal fertilizer if hold above 60 levels for my clients.