NIFTY OUTLOOK

LEVELS TO WATCH 5310 fut and 5380 fut.

SPOT MAGIC POINTS ARE 5344 and 5296

SUP 5304 5290 5276 5256 5230

RES 5333 5347 5358 5369 5385

BULLS TRYING THERE LEVEL BEST TO HOLD 5300. BUT WEAK
GLOBAL MARKETS AND EXPECTATIONS OF RBI RATE HIKE ARE
PULLING DOWN NIFTY. GAP-DOWN OPENING BELOW 5288 CAN
MAKE ANOTHER 60 POINT CORRECTION AS PER CHARTS

NIFTY TRYING TO FILL GAP AT 5250 LEVEL?

WE EXPECT MILD POSITIVE UPTO NOON AND
NEGATIVE AFTER 2.30PM.

OUT PERFORMERS FOR 23/06/2010
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MEDIA, BROKING FIRM,TELECOM AND BANKS. UPTO NOON.

UNDER PERFORMERS FOR 23/06/2010
-----------------------------------
MATAL, STEEL, OIL, AND MINES STOCKS MAY
FALL AT CLOSING HOUR.

one can go long above 5325 with opening sessions low as the stop loss. On higher side, it will find resistance at 5345 and 5375. While I do believe 5420 to be a hurdle, it will be better not to remainshort above 5345.

One can go short below 5290 with stop loss of 5330. On lower levels, it will find support at 5260 and 5220.