On mixed global cues market to open flattish with negative bias during the morning session and thereafter to be range bound and today can test 4980 levels from there bounce back is expected.
Now nifty to trade in the range 4800-5100 for the next few trading session with high volatility , As nifty tried to break its resistance level 5180 many times but could not do so and now if it breaks below 5000 then further sell-off is expected to the extent of 4800 in the next few trading sessions.
Today nifty to trade in the range 4950-50080, either side break to give a new direction to the market.
Technically nifty can take support at 5010/4980/4950/ and resistance at 5050/5080 /5100 for the day.
BANKING LOOKS WEAK FOR THE DAY.
SHIPPING AND HOTEL SECTORS LOOKS GOOD FOR THE DAY.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Tuesday, December 15, 2009
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