Market to open lower on global cues and weaken further as it was unable to hold the 4560 level yesterday and closed much lower at 4484, As SGX nifty is already down by 100 points and nifty will follow the same and has a strong support at 4410 level, If nifty trades below these level then it can test 4325 in the next few trading sessions and below this it can test 4180 level which can happen before the F& O settlement.
Long tern investors can start buying at 4200 level with a stop loss of 4180 level.
Nifty to trade in the range 4180 – 4560 levels, either side break to give a new direction to the market.
We started booking profit for our clients form yesterday onwards.
For day trading we will watch at SESA GOA, IDEA CELL and NTPC.
Technically nifty to have support at 4410/4385/4325 and resistance at 4510/4560/4585 levels for the day.
BSE, NSE Stock Ticker, India
Monday, June 15, 2009
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