Market Out Look 22-5-2009

On mixed global trends our market is expected to open at lower levels with negative bias for the day.

Large caps stocks will continue to fall further. The crack in the UPA government can further pull the market down.

Traders are advice to be cautious at higher levels and can buy at panic selling.

Nifty below 4150 can see further selling pressure and can pull down to 3950 levels.

Activity can be still seen in the mid caps power stocks.

Watch for NTPC, REC, POWER GRID and REC.

Today we will be booking partial profits in Fsl, Noida toll,Gmr Infra and Idea for my clients and shall add POWER GRID and REC at lower levels.

Nifty to take support at 4178/4140/4110 and resistance at 4250/4270/4310 for the day.