Market Outlook Feb 21 2011

Indian equities closed in the red on Friday The benchmark Nifty snapped a five-day winning streak on Friday and closed below the 5500-mark, dragged down by profit booking in oil & gas, Anil Dhirubhai Ambani Group (ADAG) stocks, infrastructure, telecom, metal and financial companies' shares. The Nifty had rallied more than 350 points in the previous five sessions.

Next Day Trading Ranges : Key Resistences and Support Areas

The [R3] or the most extreme high trading range is 5688.
The [R2] or the extreme high trading range is 5657.
The [R1] or the high trading range is 5557.
The [P] or pivot point is 5510.
The [S1] or the low trading range is 5443.
The [S2] or the extreme low trading range is 5400.
The [S3] or the most extreme low trading range is 5380.


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