On mixed global cues, market to open flattish with positive bias in the first hour of trading and thereafter to be range bound as it has been in the last 7-8 trading sessions and in the second session some kind of volatile can be seen.
Nifty to trade in the range 4780-4830, either side break to give a new direction to the market, We advice our clients to stay away from the market for the next few trading sessions, If nifty closes below 4790 then it can test 4600 levels in the coming days and on the other side a close above 4850 to take nifty to 5150 levels shortly.
Investors can buy banking, Power and media stocks on decline for long-term gains and traders can look at sugar, Textiles and mid cap steels for short-term gains.
Technically nifty to have support at 4780/4750/4710 and resistance at 4830/4860/4890 for the day.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Monday, September 14, 2009
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