MARKET VIEW:
As mentioned in our previous update, BSE reality took strong hit ending lower by 1.05% in yesterday''s trade. While POWER continued it''s up move. BSE Bankex was worst hit loosing almost 2.94% in yesterday''s trade.
All in all, mid-term trend continues to remain ranged going ahead, unless, we do not observe any major breakout either side. As for today''s trade, we see NIFTY facing strong hurdle in the range of 4800-4820 on higher side. On downside levels of 4630-4650 likely to act as strong support for today''s trade, in case of strong sell-off. In today''s trade market men for sure will be awaiting for inflation data & market will only catch clear trend once such important data gets announced.
SECTOR INDICES
BSE IT (3676.63):
For the day we are covering BSE IT index. This index has closed at 3676.63 levels, DOWN by 28.46 points (-0.77%) in previous trading session. Move in index was completely in line with our expectation. Do not expect this index to make any big up move unless does not cross hurdle at 3850 on higher side. In this sector we like I-Flex on downside as mentioned previously.
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