Market to open flattish and may trade on the higher side during the first session of trading. Traders are advice to book profit at higher levels and be in cash to buy at sharp decline with a strict stop loss.
As nifty has breached the strong resistance of 3500 and has closed above 3650 levels, can take the nifty to 3740 in the intra day trades. The 3500 levels can be considered as strong support for the nifty.
A break below 3500 can bring nifty to 3450 and 3300 levels. Nifty above 3650 can become stronger and can test 3800 in next few trading session.
Technically nifty can take support at 3580/3540/3505 and resistance at 3690/3710/3730 for the day.
Activity is seen in idea cell, If hold above 63 can test 68, buy @ 63 SL 61.5 TGT 68
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, May 4, 2009
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