21-05-2009: Market may open weak due to global cues. Small & mid cap shows strength.

European market as well US market closed with losses on Wednesday.
All Asian markets also trading weak.
Market may open weak due to global cues.
SGX Nifty data suggest that Nifty may open about 50 points lower.
Small and mid cap shows strength but profit booking is high in large cap stocks.
Nifty has supports at 4170-4200 and resistances are at 4360-4400.
Nifty may consolidate before making its next move.
If Nifty breaks 4240 we expect Nifty to test 4220 as well.
Below 4215 Nifty may drift lower to 4200.
If psychological level of 4200 is also broken then expect 4180-4170 levels as well.
Until Nifty trades above previous closing 4270 it will not show any stength.
Above 4285 expect Nifty to test 4300.
Above 4305 Nifty can test 4335 also.

Sell ICICI Bank with SL 730 Target 670.

Buy Century textiles with SL 368 Target 440-455.

Buy City Union Bank with SL 18 Target 30.

Buy Nagarjuna construction with SL 115 Target 170.

Buy Vijaya bank with SL 30 Target 45.

Buy DCB with SL 31 Target 48.