>Daily Market Preview (MARWADI FINANCIAL)

MARKET OUTLOOK

Reliance Ratio Key, Markets groping for trend…

* The surprise move announced by Mukesh Ambani controlled RIL to merge RPL with itself will have lot of bearing on the market and the merger ratio to be known by 10 AM, will set the course for the day. Cancellation of treasury stock would also be a crucial decider.

* World markets are in a major downtrend and are trading below key support levels and are highly oversold. We would advice against shorts even suggest hedging of shorts. Also recommend very selective buying based on deep values. Crucial level to watch would be 2660 for Nifty on the downside.

To see full report: Market Preview 2-03-2009