Market OutLook 29-JUL-2009

On global cues market to open at lower levels with negative bias for the day, for the rally to continue nifty has to trade above 4560 level for the day, a break below 4500 shall lead short –term weakness in the market and nifty can test 4410 in the next few trading and can go well below this level.

Investors and traders are advised to book partial profit and be cautious at higher levels ahead of F & O settlement and re-enter at lower levels.

Overall the market looks good and one can buy on very decline and during the consolidation phase nifty to trade in the range 3850-4750 for the next few months.

Nifty to trade in the range 4500-4600, either side break to give a new direction to the market for the day.

Buying Opportunity still available in the small caps and penny stocks for long-term investments.

Investors can buy Sona Koya, Paramount communications and DCW for long-term investment.

Traders to have good trading opportunity in HCC, Balrampur Chinni and Praj Ind for the day.

Nifty to have support at 4530/4500/4450 and resistance at 4588/4610/4640 for the day.

Have a nice trading day.