MARKET VIEW:

Indices continue up move for second day in line however met with profit-booking above 3600 levels in intraday trades. Market breadth though remains positive with gap up opening volumes remained missing. Wave of profit booking that was seen post noon trades saw most of the heavyweights making their fresh intraday lows by end of the session. Even NIFTY closed just above its intraday low of 3491.50 levels. NIFTY wiped off most of its premium during the session. While in past three trading session, FII remained net seller in cash segment. Sudden slow down in technical momentum may worsen investor''s sentiments going ahead.

Reiterating our previous view that NIFTY continues to have Resistance around 3600 and then at 3800 level on daily chart. While any move below intraday level of 3420 may once again induce weakness to indices. A probable fall below 3300 then clearly not ruled out.

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