MARKET VIEW:
NIFTY continues to slip further however it neared our mentioned levels of 4380 on back of weak global cues and no major domestic triggers. Volume though improved in yesterday''s trade market breadth remained negative with almost all BSE sectoral indices closing the session in negative zone.
Once again in short term NIFTY is likely to see ranged action between 4200~4600 levels as mentioned in our weekly outlook. Any close below levels of 4380 will be negative and may impart further weakness to the index. As for the day we might see some anticipatory built up ahead of inflation data due today. Banking and Reality sectors may witness some sharp action on back of the same. Up move in intraday trades may see profit booking above 4460 levels. However being crucial session it is highly probable that NIFTY may be subjected to wild swings.
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