NIFTY DAILY OUTLOOK (06-08-10)
We see nifty getting support at 5440-5450 in the morning first hour. Later we see it bouncing to test the yesterday's high of 5487.15.In this process it may cross this nominally & may not cross. However we do not see market crossing 5510 under any circumstances. On the contrary we see a vertical drop after this high. This decline can be quite ferocious with high momentum & advance to decline ratio & virtually every stock will participate in this.
(1)SELL BHARTIARTL at 328 with the stop of 335 for the target of 310.
(2)SELL DLF 315 with the stop of 324 for the target of 306 & then 285.
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