BSE, NSE Stock Ticker, India

Tuesday, June 23, 2009

Market Out Look 24-JUN-2009

On mixed global cues, market to open flattish with positive bias for the first hour of trade.

Yesterday nifty has touched a low of 4146 and high of 4267 and closed at 4247 which above the 4200 levels, if today nifty holds above 4280 levels then huge short covering is expected and on the other hand a break below 4200 can drag the nifty to 4100 levels which should be the strong support.

Today nifty should trade in the range 4200 – 4320 levels, either side break to give a new direction to the market.

Activity can be seen in OIL and BANKING stocks.

Watch for MRPL & RPL in oil sector and DCB & VIJAYA ABNK in the banking sector.

Technically nifty to take support at 4200/4176/4150 and resistance at 4280/4320/4350 for the day.

Have a nice trading day.

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