On weak global cues market to open slightly lower side with negative bias during the morning session and pullback can be expected from the lower and thereafter to be volatile till close.
Yesterday nifty closed below the 5000 indicating further sell-off and can test 4950 levels or can go further down to the extent of 4900, if holds 4950 then a pullback is expected from that level.
Still there is no clear direction emerging in the market but there are movement is selected large cap and mid cap stocks therefore one can trade in the movementum stocks with cautious and should book profits at higher levels.
Today nifty to trade in the range 4900-5050, either side break to give a new direction to the market.
Technically nifty can take support at 4970/4950/4920/ and resistance at 5020/5050 /5080 for the day.
Trade with cautious and no overnight positions.
Have a nice trading day.
BSE, NSE Stock Ticker, India
Sunday, December 20, 2009
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