On global cues market to open slightly on the higher side with positive bias for the day. yesterday’s correction was buying opportunity at lower levels, if nifty hold above 4380 then the rally to continue and nifty can test 4600 in the next few trading sessions and a break below 4380 can drag the nifty to 4270.
Nifty to trade in the range 3800 - 4750 in the consolidation phase for the next three months, in very short –term nifty to trade in the range 4380- 4560, either side to break to give new direction to the market .
Activity can be seen in IT mid cap, Infra and reality stocks for the day.
In short term investors can buy FSL, Apollo Tyre, 3iinfo and Nagarjuna constructions.
Nifty to have support at 4410/4380/4350 and resistance at 4470/4500/4560 for the day.
BSE, NSE Stock Ticker, India
Wednesday, July 22, 2009
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