26-5-2008 VIEWS

Hi, I did not post any views due to some domestic work. the market is poised at very important point. The world market indices are down . The crude price is high. The retail investors are quiet, sitting at the side lines. The Nifty cash closed at4946.55 for the week ending 23-5-2008. By which it has broken the channel and probability is high the nifty will go down further and find its support at 4910 region . If it breaks down further the touching of 4800 and subsequently 4500 is not ruled out. Next week, due to May month derivative expiry the market will be volatile. But the market is biased toward bears. On the upper side the nifty may go up to 5100-5150-5170-5200. Readers may be better off playing the market with proper hedging. The following links are worth visiting. 1.http://www.emarocks.com/ 2.http://www.nseindia.com/marketinfo/indices/indexwatch.jsp Happy trading.