Market View (05-07-07)

Market took a dip to correct to its weekly averages. Reliance did dip but not ONGC. Its still safer to be stock specific in sectors like cement, banks, engg. Avoid huge quantities and use stoplosses. Upside in Nifty above 4370 is 4444. Market may face resistance any time and take a dip upto 4200-4140 levels on small negative news also. The reason being volatility and stock specific movement which is generally not a good sign.