Market to open weak on global cues and more over in the last two trading session the nifty was unable to close above the 4560 mark which itself is a clear indication of weakness, If nifty breaks below it’s strong support 4450 then selling pressure to intensify and can test 4414 level and below this nifty has support at 4350 level.
Avoid having positions in the large cap stocks.
Still some activity can be seen in the mid caps and small caps.
Today activity will be in the FMGC Sector, Watch for ITC and DABUR.
On decline one can look at buying POWER GRID, DCB, NTPC, DENA BANK AND BHARAT FORGE.
Nifty is having support at 4480/4450/4414 and resistance at 4520/4560/4586 levels for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India

Wednesday, June 3, 2009
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