Tuesday, April 22, 2008


NIFTY (5037 +79 pts)

Supp 5000/4920/4880 Res 5060/5130/5180

SENSEX (16739 +258 pts)

Supp 16600/16450/16200 Res 16890/17140/17350

Outlook for 22 April, 2008:-

· Ranged movement between 16600 and 16850 is expected today. Correction may come in case we dip below 16560. Stock-specific movement will be witnessed.

· Idea (104):- The stock is nicely consolidating and it can target 113-115 levels in short-term. Keep SL of 99.90

· India Cements (186):- Buy around 182-184 for target 204-208 SL 172

· ONGC should be watched for knowing index trend. The stock is showing some accumulation and above 1040 it can add another 50-60 rupees.

Disclaimer: These recommendations are based on the theory of technical analysis and personal observations. This does not claim for profit. I am not responsible for any losses made by traders. It is only the outlook of the market with reference to its previous performance. You are advised to take your position with your sense and judgment. I am trying to consider the fundamental validity of stocks as far as possible, but demand and supply affects it with vision variations.

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