On global cues market to open sluggish note with negative bias during the morning session of trading and thereafter in the second session some kind of bounce is expected in the market.
Yesterday nifty closed in the negative zone and the FII were net seller for the past two days,Howerver nifty did not break its strong support level 5020-5000 levels and even in todays trade this level will be considered as strong support and can reverse from the 5010 levels.
Nifty to trade in the range 5000-5080 levels,either side break to give new direction the market, if nifty trades below 5000 then can test 4900 levels in the coming days and if closes above 5080 can take nifty to 5180 levels in the next few trading sessions.
nifty to have support at 5020/5000/4980 and resistance at 5080/5120/5180 for the day.
For short-term
Buy KFA > 56, SICAL >71 AND NOIDA TOLL > 44.
Have a nice trading day.
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