On global cues market to open flattish with negative bias for the morning session, for the rally to continue nifty should trade above 4725. Yesterday close indicates weakness in the market for the day.
Traders are advised to start booking profits on very rise, at higher levels more selling is expected in the comings days avoid any fresh long positions till a clear indication comes.
In short term nifty to trade in the range 4560- 4725, either side break to give a new direction to the market and for the day nifty to trade in the range 4620-4725,either side break to give a new direction to the market.
Any sharp correction till 4500 will be a buying opportunity and at lower levels watch for Infra, mid cap IT and power stocks.
Nifty to have support at 4640/4610/4580 and resistance at 4700/4725/4750 for the day.
BSE, NSE Stock Ticker, India
Tuesday, August 4, 2009
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