Market Outlook for 16th May, 2012

Nifty Future:

Resistance around 4947 and crossover of 4952, it will move to 5000 – 5035

Support around 4921 and breaking 4915, it will fall to 4866 – 4833

Stock Future:

Short Axis Bank below 973 with Stop above 983. TGT 950 – 935

Buy BPCL around 726 and add around 719 with Stop at 717. TGT 745 – 758

Buy Mcdowell above 673.10 and add around 666 with Stop at 664.85. TGT 692 – 704

Short SBI below 1840 with Stop at 1854. TGT 1809 – 1789

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

Happy Trading

C T Ramesh Raja