Market Outlook for 18th May, 2010

Nifty Future:

Resistance around 5108. Crossover of 5114 will lead to 5160

Support around 5010.  Break of 4990 could plunge the Index to 4890

Stock Future:

Buy Jindal steel around 643 with SL at 639. TGT 665

Buy Mcdowells around 1215 with SL at 1200. TGT 1255 – 1265

Buy  National Aluminium around 398 with SL at 390. TGT 410 – 420 – 430

Short Reliance Industries around 1025 with SL at 1034. TGT 1005 – 995 – 985

Best wishes

Happy Trading

C T Ramesh Raja