Market Forecast for 30.07.07

Market remained under pressure from higher levels but as i have admitted earlier, i had not expected such a carnage in the market. More downslides are left but the reaction of the market towards RIL & SBI results may lift the market from another carnage. as of now, expect a carnage on monday too....

Tomorrow, market may open flat or negative with a huge gap down of 50-80 points, with mixed bias attached with high volatility and remain long above 4485 with SL 4465 for a tgt of 4540-4555. If it breaks and sustain below 4480 keep short with SL 4495 for tgt 4370-4345. wait for the market to stop the carnage....