Market Outlook 01-APR-2009

Today was a traders day out. There was so much volatility created by reliance refusing to move up and sbi and banks pushing the index up. As a result we have an inside day formation on nifty.





For wednesday trading


Bear Level


Short nifty at 3040 with SL of 3067 for targets 2981, 2955, 2930


Below 2992, expect nifty future be attacked by bears.


Bull Level


Buy Nifty at 2909 with SL at 2883 for targets 2945, 2972, 3010.


Above 3075 nifty can upset many a bearish plans.


In such a scenario buy at retracement level 3055 with SL 3037 for tgt 3125.


Taking a contrarian View


HDFCBANK is near resistance levels.





On Wednesday, short around 975 level with SL at 995 for target of 873.


Have a profitable trading day !!!!!!!