Indian Market outlook:-

Indian equities are expected to get a GAP DOWN opening on back of negative global cues and remain volatile due in latter session. 
US STOOCKS PLUNGED YESTERDAY, driving thedown jones to close down more than 500 points, crude oil reached near term low of 85 $ 
Technically nifty as an intraday resistance at-5403-5475 levels and Support is seen at 5252-5167 levels.
The SGX nifty is trading down by 139 points at 5201
Curcialsupport is seen at 5170
FII's were net SELLERS worth rs 255 cr in case market (4-07)

Market may open with a downside gap and is expected to trade lower. Selective buying can trim its early losses during the day.

 SENSEX (17693)

Sensex has support at 17626, 17521 below 17436. Resistance at 17799 and 17830.

NIFTY (5331)

Resistance at 5349 and 5387. Support at 5304 below further selling.

RECOMMENDATIONS

1)     INDIAN HOTEL (76.5)

   Support at 74 below 71.5. Resistance at 77.9 above 85 and 92. (Buy for delivery)

2)     CUMMINS INDIA (614.75)

    Support at 599 and 590.  Resistance at 618 above 624 and 640.  (Buy for delivery at declines)

3)     HINDUSTAN ZINC (134)

Support at 132 and 127.9. Resistance at 137 and 141. (Sell at higher).

4)  RANBAXY (532.75)

   Resistance at 534 above 542.  Support at 529 below 522 and 518. (Sell at higher)

5)     BHEL (1785)

   Resistance is there at 1805 and 1815. Support at 1780 below 1750 and 1720. (Sell at higher)

DERIVATIVE STRATEGIES

          

SELL AXIS BANK FUTURES AROUND 1303 LEVELS

SELL INFY FUTURES AROUND 2716 LEVELS