On mixed global cues market to open flattish with positive bias for first hour of trading and thereafter to be volatile due to credit policy announcement.
For the rally to sustain nifty should hold above 4560, if trades below 4560 then traders should book profits and nifty can test 4410 in the comings days.
Nifty during the consolidation phase to trade in the range 3850 – 4750 levels, any sharp correction will be a buying opportunity for investors and traders.
For the day nifty to trade in the range 4500 – 4620, either side break to give a new direction to the market.
Activity to be seen in mid cap stocks, one can watch for mid cap IT, mid cap banking and mid cap Pharma stocks.
Traders can take long positions in GVKPOWER, IFCI, 3IINFO, and NAGARJUNA CONSTRUCTIONS.
Nifty to take support at 4530/4500/4450 and resistance at 4590/4620/4650 for the day.
BSE, NSE Stock Ticker, India
Monday, July 27, 2009
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