Market to open flattish on mixed global cues with a negative bias and can recover from the lower levels for the day. Expect huge volatility ahead of F & O expiry on Wednesday.
As Nifty is trading above the 200 DMA for the last two trading session and can test the 3580 and then the 3800 in the coming days, If nifty trades below 3300 weakness is expected and can test 3190.
Buy on dips will the best strategy in this current market conditions with a stop loss of 3300 levels. Profit booking has to be done at regular intervals.
Watch out for Banking and Power stocks for today trade.
Technically nifty to take support at 3450/3420/3380 and resistance 3490/3520/3580 for the day.
Have a nice trading Day.
BSE, NSE Stock Ticker, India
Monday, April 27, 2009
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