On global cues our market to open on the higher side with a gap opening of minimum of 75 points in nifty and looks as if we are heading towards the 3650 mark shortly in the next few trading session.
As mentioned on 29-4-2009 a close above 3450 can take the nifty to 3650 levels and today we will almost reach this level.
From here onwards nifty to trade in the range 3300 –3650 levels for the next few trading session till the election result are announced, If nifty closes above 3650 level can test 3800 shortly.
Huge volatility is expected in the coming days, One has to trade with at most care, Buy on decline and book profit will be the best strategy for the next few trading session.
Watch for telecom and power stock for the day.
Technically nifty to the support at 3520/3480/3450 and resistance at 3550/3580/3605 levels for the day.
BSE, NSE Stock Ticker, India
Sunday, May 3, 2009
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