On global cues market to open on the higher side with positive bias till the midsession of trading in the second session profit booking is expected at higher levels.
One has to be cautious at higher levels ahead of F & O settlement on coming Thursdays.
Nifty to trade in the range 4250-4750 for the week, either side break to give a new direction to the market, I think nifty will face a tough resistance at 4750 levels, for the rally to sustain nifty to should hold above 4560, if closes below 4560 level then it can test 4320 in the next few trading sessions.
Traders can take long positions at current levels with a stop loss of 4415 level.
Activity to be seen in Banking, Metal, Cement, and Fmgc in this week.
Investors and traders can take long positions in UCO Bank, Vijaya Bank, Prism cement, Sail, Dabur and 3iinfo for short term gains.
Nifty to have support at 4520/4480/4420 and resistance at 4580/4620/4650 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, July 26, 2009
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