Market Outlook for 3.11.11

Market closed flat on Wednesday, Nifty at 5258.45 with a gain of 0.5 points and Sensex were marginally in red at 17464.85, 16 points down.
Greece is still there to control ups and downs of the global financial markets!!! The Greece debt related issues still keeps markets down and every eyes are now in G20 summit held on 3rd and 4th November 2011. European markets also were in red after Euro-zone Manufacturing PMI was out in the yesterday evening.
But most of the day, apart from opening and closing session, Indian markets were managed to be in green.
Bharti Airtel & Hero Motocorp were the mainly dragged the market yesterday. But Reliance Industries and ADAG Group shares supported the market. RCom shoot up 5.5% on reports that RIL may tie up with the company for telecom services. The new listing Indo Thai Securites fell around 70% to close at 23 after making an intra day high of 99.10 and low of 18.10 on BSE.
Market breadth was negative about 660 shares advanced and 761 shares declined on NSE.

Tip for 03.11.11

Nifty has strong resistance at 5335-5345 zone.
If Nifty breaks below 5223.25 it may go down to 5202.45 and 5181.65.
For upward journey Nifty has to break and sustain above 5323.90 and then 5335.35/5345.75 and 5366.25

Buy Great Offshore Ltd at/above 125.05 SL 105.75 TGT 137.75/143.05 - 6 months hold