On friday Nifty Future ended the day as positive, did not show much strength.
For today, 4270-4280 area will act as a resistance. Above that, 4340 will act as a major resistance. Till such time Nifty Future remains above the Trend Line, it will continue to show strength, and thats going to be for quite some time now.
On Friday, Reliance led the Nifty Gains as it had a smart bounce from 2107 - 50% level. It will remain just that, until it is able to go above 2270 & 2320, which is quite a distance from the Friday Close of 2193.75. When 2100 is broken on down side, 2000 will act as a good support.
In this case too, till such time price remains above the Trend Line, at lower levels it will try to show strength.
Inofysy appears to be the weakest amongst the frontline stocks, It will gain strength only above
1545.
Happy Trading,
Ketan Asher.
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