Market at overBought ZoneOn weak global cues, our market too will open in the red with a down side gap of 30-40 points in nifty.
Nifty to face tough resistance at
3190 level, if closes above these levels and hold for next two treading sessions, then the next target for nifty will be
3450-3525 level in the coming days.
However market being in over bought zone can face resistance at
3160 levels and if nifty trades below
2960 levels then can come to
2500 levels in the next few trading sessions.
Traders need to be cautious at higher levels.
Technically for the day nifty can take support at
3060/3020/2960 levels and resistance at
3140/3160/3190 levels.