Source : Advance Get
Outlook for the day
NIFTY witnessed a volatile trading session (4040-4000) with positive bias. At current levels, a strong
buying force is required to pull the Indices beyond 4030-4040 levels and a decisive upmove is expected
above such levels. The sectoral Indices seem to display a mixed trend and hence holding on to long
positions with partial profit booking is advisable as a marginal correction at current levels ( after a
significant rise witnessed in the past two weeks ) cannot be ruled out.
The coming trading session is expected to trade in a broad range (3980 – 4040) and a further upmove upto
4065-4070 is expected if NIFTY convincingly trades above 4040 level. The immediate support for NIFTY
is at 3980-3970 level and a further downside upto 3950-3920 can be expected if it trades below such level.
The short term investors are advised to be selective in their approach.