On mixed global cues, our market to open lower with a negative bias for the day, Yesterday nifty bounced back from it’s strong support of 4410 to almost near to it’s strong resistance at 4560 level, since the close was below it’s strong resistance , one has to be cautious.
Nifty to trade in the range 4410 – 4560 levels, either side break will give a new direction to the market.
Activity was seen in textiles and sugar sector, Watch for Alok textiles , Arvind Mill in textile sector and Balaram chinni, Bajaj Hind in sugar sector, buy on decline for medium-term.
Yesterday we have taken long position in FSL for our clients.
Technically nifty to take support at 4480/4450/4410 and resistance at 4560/4590/4620 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, June 16, 2009
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