Market Outlook for 03 February 2012
Hovering above 4,800, local buyers might continue yesterday’s buying spree, given tamed uncertainties in industrialized economies. Anticipation of China’s participation in the euro bailout package might also get favorable reaction from several fund managers. However, profit-taking might be seen on rises, necessary to support the uptrend. Check supply pressures on upsides. Include stock picks for blues to strengthen portfolio. Immediate support is 4,780, resistance 4,860.