Yesterday Nifty Future continued to remain in a narrow band, and not able to show any direction. The levels of 4270-4280 will remian resistance area even today. If this level is broken, next importance hurdle would be 4335.As explained in detail on the attached chart, the Nifty Future continues to remain outside the channel which it broke on that historic Monday, when market had to remain closed due to upper circuit filter. On down side, if 4160 is broken market can come down till 3950.
Reliance will find hurdle at 2250 and on down side ther is a strong support at 2100.
Infosys continues to remain weak till it is below 1555. If 1490 is broken, can go down upto 1460.
Nifty Future and Reliance continue to remain above the Trend Line , so till then bullish sentiment will prevail, which is helping a great deal to B Group stocks.
Happy Trading,
Ketan Asher.
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