market Out Look 26-05-2009

On global cues market to open flattish with positive bias for the first hour of trading and at higher levels be cautious as selling expected at higher levels.

For nifty major support is at 4100-4150, break below 4100 can drag the nifty to 3850 levels in the coming days.

Decline should be used as buying opportunity from the long tern point of view.

Activity can be seen in the mid cap and banking stocks for the day.

I am still long in chambal fert and yesterday have taken position in Rec and power Grid for my clients.

Nifty can take support at 4206/4180/4150 and resistance is at 4270/4303/4350 for the day.