On global cues market to open at higher levels with positive bias for the day, Market expected to bounce back and trade on the higher side and the rally to continue for the next few trading sessions.
The outcome of the Q1 result and the monsoon to influence the future direction of the market in short term.
Nifty to trade in the range 3950 – 4040, either side break to give new direction to the market, If nifty closes above 4092 levels then it can test 4180 levels in the next few trading sessions and on the other side a close below 3950 can drag the nifty to 3800 in the coming days.
Investors and traders can take long positions in banking, metal, and power and infra stocks for short -term gains with nifty stop loss of 3950 levels.
Traders can buy stock like Rec, Welspun Guj, Voltas, Power Grid, Jp Hyro and Chambal fert for short –term trading and moreover these stocks are good for long –term investment also.
Technically nifty to have support at 3930/3900/3880 and resistance at 3990/4040/4080 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, July 13, 2009
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