MARKET VIEW:

Finally NIFTY has moved out of previous range of 4200~4420 with a strong volume. Even market breadth remained positive with all sectoral indices ending the session with positive gains. NIFTY too has closed above its 20/50 day EMA currently placed at 4364 and 4384 levels respectively. On daily chart two important hurdles for NIFTY lies at levels of 4560 and then at 4649 on higher side. On lower side levels of 4420 must be held for any smart up move in coming days. However in view of lack of positive trigger it is highly probable that NIFTY may witness ranged activity in short term once again.

All in all for today''s trade, market may see ranged activity between 4450 and 4550 levels as everyone would await inflation data to be announced later. Traders are advised to keep strict stop loss on all open position.

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