Market to open on the lower side with negative bias for the day, as nifty has breached the strong support of 4450 yesterday and closed below this, It's a clear indication of further weakness in the market, any bounce back to be used as a selling opportunity.
Now nifty to trade in the range 4280 – 4560 levels, either side break to give a new direction to the market.
The 4350 levels will be a buying opportunity for the day and any rise from this levels, One has to book profit, below 4330 do not hold any long positions.
The market looks good for long –term, we will start buying at 4280 for our clients and we will be looking at Power Stocks, Infra stocks and Banking stocks.
Nifty to have support at 4410/4350/4310 and resistance at 4450/4500/4560 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, June 8, 2009
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