MARKET OUTLOOK FOR 07-April-11

Nifty closed today at 5892 with -18.00 points so technically the logical target of 5956 stays but the market gives a feeling that it is running out of steam and so it is better to trade in small profit. The market doesn't seems as expected and has reacted and closed in the red. Technically the trend is still intact up but 5956 is also a very stiff resistance to deal and a good place to book profits…

The support for the Nifty is at 5855 and resistance at 5953-6015

BSE Sensex closed at 19612 with -74.62 points So the crucial support on the Sensex on the downside is 19555 and resistance at 19850-20000.