NIFTY OUTLOOK FOR 11 & REVIEW

MID SESSION BETTER

Nifty                               8094    -59

Nifty opened lower and traded with further down side bias and closed below 8100 mark. Stop loss for Nifty long positions  may be enhanced to  8075 (on close basis).  Nifty spot is expected to encounter resistance at 8135, 8180 and find support at 8055, 8020 for Thursday. Nifty’s bullishness would be reinforced only when it crosses 8185. While Global cues  and  Funds flow  are expected to broadly guide the market movement, based on the present market position, market can be expected to be  better in midsession and remain steady towards close.