MARKET OUTLOOK FOR 17TH MAY 2010

MARKET IS IN DIRECTIONLESS DIRECTION, WHICH MEANS IT WANTS TO GO UP BUT GLOBAL CUES R NOT HELPING.

NIFTY SPOT GOOD ONLY ABV 5152

NIFTY SPOT RESISTANCE IS AT 5102—5152

NIFTY SPOT SUPPORT AT 5022

STOCKS TO WATCH:

I AM IN FAVOUR OF ACCUMULATING TATA STEEL ON EVERY DIPS

SBIN PROVISIONING FOR NPA BEING DONE ON DIRECTIONS OF RBI WHICH RESULTS IN DIP IN PROFITS. SO WAIT FOR SOME BOTTOM FORMATION SUPPORT AT 2152 AND 2090.

RIL LAST HOPE FOR BULLS AT 948

HINDALCO BUY ON DIPS

 

 

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