According to Reliance Money’s Morning Notes, as for today’s trade, we may observe lack lustrous action after hectic action in past four trading session. Support for the day exists far lower around levels of 4315-4320 range any move below this range may see indices slipping lower towards 4280 levels. While hurdle remain around levels of 4370 on higher side.

Reliance Money’s Morning Notes:

Series that started on positive action also ended the same with extremely positive note. Thus MAY series proved not only to be positive but also a historic one. Last session of the series saw FII buying stock worth Rs.1859.59 crores in NSE cash segment. DII however approached the up move with caution as they remained net seller as per provisional figures. Market breadth remained positive with sharp jump in cash turnover. NIFTY after closing above hurdle at 4200- 4250 yesterday also managed to close above mentioned hurdle of 4330 on higher side. Next hurdle is now observed far higher around levels of 4680-4700 range. Consolidation in the range of recent low of 4090 to 4400 may provide strength to index going ahead.

As for today’s trade, we may observe lack lustrous action after hectic action in past four trading session. Support for the day exists far lower around levels of 4315-4320 range any move below this range may see indices slipping lower towards 4280 levels. While hurdle remain around levels of 4370 on higher side.

source: Moneycontrol

Tags: nifty, nifty calls, nifty tips, nifty trading tips, nifty views, NSE Tips, reliance money, sensex

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