Market OutLook 03-NOV-2009

On global market to open weak with a negative bias for the morning session and thereafter expected to be volatile for the second session with a positive bias.

On Friday nifty did breached the 4700 and bounce back and closed above the 4700 market, if nifty breaks 4680 then selling pressure the intensify and then nifty can test 4620 levels for the day, On the other hand if nifty trades above 4720 a pullback rally can be seen to the extent of 4790 for the day itself.

However I feel that nifty should not close below the 4700 levels in short-term, if breaks then can test the 4400 in the coming days with a support in between at 4570 levels.

IN TELCOM SPACE RCOM, BHARATI AND IDEA TO BE WEAK FOR THE DAY.
IN REALITY SPACE DLF, UNITECH AND HDIL TO BE WEAK FOR THE DAY.
IN BANKING SPACE IDBIBANK, IDFC AND IFCI TO BE WEAK FOR THE DAY.

FOLLOWING STOCKS CAN BE SOLD FOR SHORT-TERM.

SUZLON < 68 SL 71 TGT 56
Have a nice trading day.