On global cues market to open flattish with positive bias for the first hour of trading, if nifty holds above 4320 can further rally till 4390 levels and on the other hands if trades below 4320 can test the strong support of 4250 levels.
Nifty to trade in the range 4320 – 4365, either side break to give a new direction to the market for the day.
In my view nifty should continue to rally till 4600 levels in the next few trading sessions, traders can take long positions with a stop loss of 4220 level.
Activity can be seen in OIL and BANKING sector for the day, one can take position in MRPL and RPL in oil sector and in banking sector YES BANK and SYNDICATE BANK for short-term gains.
Yesterday we have taken positions in MPRL AND ISPAT for our clients.
Technically support for nifty is at 4320/4290/4250 and resistance at 4390/4420/4450 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Wednesday, July 1, 2009
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