Market to open flattish with positive bias for the day, Friday’s strong close indicates the rally to sustain and extend the last weeks gain on global cues.
The revival of monsoon and the encouraging corporate result so far to boost the sentiment going forward.
Nifty to trade in the range 4270-4410, either side break to give a new direction to the market, for this rally to continue further nifty should hold above 4250 levels.
Investors and traders can take long positions with a stop loss of 4250 levels; above 4410 nifty can test 4550 in the next few trading sessions.
Activity will be seen in Metal, Banking, mid cap IT, Power and Agri stocks.
Investors and traders can take long positions in Tisco, Balrampur Chinni, Renuka sugars, Chambal and Nagarjuna Fertilizer stocks for short gains.
Nifty to have support at 4350/4320/4280 and resistance at 4390/4420/4450 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, July 19, 2009
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