Market Outlook for 7th May, 2012

Nifty Future:

Resistance around 5132 and crossover of 5144, it will move to 5170 – 5205

Support around 5010 and breaking 4991, it will fall to 4960 – 4920

Stock Future:

Short Acc below 1192 with Stop at 1203. TGT 1167 – 1151

Can Bank breaking 422, short on pullback around 428 with Stop at 430. TGT 408 – 398

Note: If stop is takenout after entry level, Trend Reversal will take place.

Happy Trading

C T Ramesh Raja