MARKET VIEW:
Last hour of recovery helped indices to recover almost 70 points in yesterday''s session. On daily chart NIFTY continues to remain below its 20/50 day EMA placed at levels of 4349 and 4379.10. In yesterday''s trade we once again saw levels of 4280 playing important role as NIFTY made low of 4281 and bounced back. With lack of any major events ahead, we may see indices taking direction initially from global cues however stock specific action may gain momentum in late part of the trades.
All in all for today''s trade, intra day support continues to exist around levels of 4280 while intra day resistance exists around levels of 4340 and then at 4420.
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