Market OutLook 30-JUL-2009

On mixed global cues market to open flattish with negative bias for the day, as said yesterday for the rally to continue nifty should hold the 4560 levels and once breached the 4500 sudden sell-off drag the nifty to 4420 level just above the support level 4410 given by me.
Today nifty will be range bound there should not be must volatility as the worst was over yesterday itself but traders should be cautious at higher levels.

Nifty to trade in the range 4450-4560 levels, either side break to give a new direction to the market for the day and any panic sell-off should be a buying opportunity for smart investors, nifty will have a strong support at 4350 one can take position at this level with a stop loss of 4270 level.

Activity to be seen in Metal, Banking and Reality stocks with negative bias for the day.

Trading opportunity can be seen in IDBI, Power Grid and Suzlon.

Nifty to have support at 4480/4450/4410 and resistance 4525/4560/4620 for the day.

Have nice trading day