Market Outlook for 6th February, 2012

Nifty Future:

Caution: Possibility of market correcting from 5392 is very high.  Trade with caution.

Resistance around 5373 and crossover of 5379, it will move to 5410 – 5435

Support near 5280 and breaking 5263, it will fall to 5230 – 5200

Stock Future:

Buy Axis Bank around 1074 with Stop at 1071.80. TGT 1105 – 1120

Buy B Auto above 1630 and add around 1620 with Stop at 1616.90. TGT 1660 – 1680

Buy ICICI Bank around 906 with Stop at 904.30, TGT 935 – 950

Note: If stop is takenout after Entry, trend reversal may happen.

Good Luck !!

C T Ramesh Raja