Market to open down with negative bias for the day. market will be volatile and if nifty holds the 4100 for the next few trading session then it can test 4600 levels in the coming days.
Selling pressure in the large caps to continue for few more trading sessions and the mid caps too come under selling pressure and the traders are advised to be cautious and limit their long position.
As long as nifty holds above 4100 levels nothing to worry in the market, till then buy on decline and sell on rally will be the best strategy.
I have taken position in chambal fertizer and Dish tv for my clients and today I will be buying Zicom , Madras cements, Hind Motors , Rec and Neyvelli.
Technically nifty can take support at 4225/4186/4150 and resistance at 4288/4329/4380 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, May 24, 2009
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