MARKET VIEW:
As mentioned in our weekly outlook NIFTY continues to see ranged action with strong hurdle on upside around levels of 4600. NIFTY continues to remain above its 20/50 day EMA placed at 4372 and 4386 levels. In yesterday''s action we did saw NIFTY testing the strength at 4420 and bouncing back. With negative sentiments it is highly probable that we may see NIFTY moving below this level in today''s trading session. Stock specific action may continue for time being.
All in all for today''s trade, market may once again see ranged activity around 4400 levels. Negative triggers from domestic market may dampen the trading sentiments. Traders are advised to keep strict stop loss on all open position.
Click here to download full report
Reliance Money Disclaimer