STOCK MARKET NEWS

For next week,the Nifty range will be of 4800 to 5000. There will be a few sectors or stocks, which will have a striking out performance and those will be the trading opportunities. As we go into next week as well to the market at large, the way we have closed this Friday, I suspect that traders would be guessing wither. It’s a break on 4800 on the way down or a break of 5000 on the way up. It’s frankly a toss of a coin with the market or the screen giving up not many signals as we head into Monday’s trade.

The sectors that is likely going to be positive is IT sector and Pharma. With the crude price on high and the inflation is a still worry as the rumour of oilprice hike seems to take effect by this week. To look at nifty next week it is going to be 4782 is the support

The markets opened on an optimistic note and ended with significant losses as the expiry witnessed a large scale unwinding of longs on the back of fears of a steep petro price hike.The indices have ended in the lower end of the day's spectrum that too with higher turnover and weak market internals
The coming session is likely to witness a range of 4930 on advances and 4740 on declines. The wide range is due to the large bas effect of Thursday. Being a weekend session, the traded volumes maybe truncated and the session may be relatively quieter.
The outlook for the markets today will be that of nervousness as long as the Nifty remains below the 4865 levels. The overseas cues will continue to provide an overhang on the domestic sentiments. Focus on capital preservation for now.

Rajesh Exports will announce results on June 18, 2008 which may act as trigger for short term bounce back.