Market to open flattish and to be volatile for the day, yesterday nifty bounced back from very near to its strong support of 4350 and closed very near to its strong resistance at 4560.
Today at higher levels one has to be very cautious, if nifty holds above the 4600 levels and closes above the 4650 mark then it’s a bullish sign and nifty can test 4800 in the coming days and on the other side a close below the 4560 is a sign of weakness in the market.
Today activity will in the mid cap IT and Banking stocks.
Yesterday we missed the buying opportunity at 4360 levels as we were expecting the nifty to test 4280 levels which did not happen.
If nifty holds above the 4600 levels we will be taking long positions in GTL INFRA @ 42-44 levels and DCB @ 43, MOSER BAER above 110 look good.
Nifty to take support at 4500/4480/4414 and resistance at 4590/4620/4650 for the day.
Have nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, June 9, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment