MARKET VIEW:

BULLS emerged strongly for first time after cracking levels of 4448 and then 4100 in successions. Journey of NIFTY after closing below 4448 to 3848 lasted for very short duration of 9 trading session ensuring chances of such pull backs. BEARS were completely defeated in yesterday''s trading activity. Volumes too remained on higher side while Market Breadth remained in favor of BULLS. NIFTY which was down by almost 6.9% in past two days at one point of time needed just few hours to make a come back. However bounce in NIFTY took place very near from mentioned support of 3800 levels after making a low of 3848 in intraday trades. All in all, though short term technical bounce like one witnessed yesterday will continue levels of 4400~4500 on higher side for short term in case of bounce back will be closely watched. Support for the day lies lower at 4020 while strong hurdle exists around 4180~4190 levels. Stock specific action will continue to remain most volatile and traders are advised to follow strict stop loss.

SECTOR INDICES:

BSE METAL (13239)

For the day we are covering BSE METAL index. This index has closed at 13239 levels yesterday, UP by 745 points (+5.96%). Key hurdle for this index exists around levels of 14000 & only on close above that level fresh review of the index should be taken.

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