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Nifty intra-day support seen at 4370-4380

This article was posted on Jun 9, 2009 and is filed under Market Outlook

MUMBAI – Reliance Money expects the Nifty to take intra-day support at 4370-4380 levels. If these levels are breached then the index may slip
further to 4340 levels.

Indices witnessed extremely sharp sell-off on very first session of the week. Market breadth turned negative with FII & DII turning net seller as per provisional data. In short-term higher range of 4650-4700 as mentioned earlier continues to remain important hurdle. Key support remains far lower around levels of 4090-4150 for Nifty.

As for today’s trade, support for the day exists far lower around levels of 4370-4380 range. Any move below this range may see indices slipping lower towards 4340 levels while hurdle remain around levels of 4470 on higher side,” said Reliance Money report.

source: Economictimes

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