Market Outlook:

Tuesday, March 09, 2010

Market has continued to sideways trading. However, some profit taking was seen today. Remember from 5075 spot, we alerted a target of 5120 spot in Nifty last week. Yesterday, we wrote “We see some profit taking to take place which is likely to take Nifty around 5080 spot levels.” This profit taking has happened a bit. We see some more profit taking from the market which shall take Nifty towards 5080 spot levels. Avoid fresh long positions.

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