Market to open flattish with negative bias for the first hour of trading, if holds above 4325 it’s a sign of bounce back in the market and on the other side if trades below 4270 levels it’s a bearish sign for the market and can test 4180 levels.
Nifty strong support exists at 4180 and below this level big sell –off is expected and can test 4000-3900 levels in the coming days.
Nifty to trade in the range 4220 – 4330, either side break to give a new direction to the market for the day.
If nifty breaks below the 4270 levels, we will start closing our long positions for our clients and be in cash till we get a clear direction of the market.
Reality and Metal stocks looks weak for the day, traders can get selling opportunity for intraday basis.
Technically for nifty support is at 4270/4220/4180 and resistance 4330/4388/4410 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, June 30, 2009
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