On global cues market to open at higher levels with positive bias for the day with some volatility from the mid-session of trading.
Yesterday selling pressure was clearly seen at higher levels and nifty was unable closed above the 4270 levels, for pullback rally to continue the nifty must close above the 4270 levels.
Nifty to trade in the range 4181-4270 levels, either side break to give a new direction to the market and today nifty can test 4325 in intraday trading, if holds above these levels then it is positive sign for the rally to continue.
Nifty to revive only when it closes above 4325 for two conservative trading days, a close below 4181 can drag the nifty to 4000 levels in the coming days.
Power, Banking , PSU stocks to be in demand for the day. Activity can be seen in mid cap IT stocks investors can watch for FSL, 3IInfo, Rolta and Subex for long term gains.
In Fertilizer stocks Chambal and Nagarjuna Fertilizer can be bought for short term gains.
Nifty to have support at 4220/4200/4181 and resistance at 4290/4325/4350 levels for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Thursday, July 16, 2009
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment