Nifty: Resistance 4007/4040/4080/4110
Support 3990/3940-3955/3905/3880
Nifty started the week with weak note. But our market recovered from the day's low led by IT and banking stocks. Yesterday our support are of 3905 acted perfectly (low 3905.5). We were only to say that Nifty tgt 4040 when it was @ 4600.
Fresh Nifty View:
1) Nifty has corrected from 4660 levels to 3900. Nifty may bounce back to 4040-4110 zone. If it sustains above it, we may see upmove to 4333-4500 zone.
2) Nifty may bounce back to 4040-4110 zone, where fresh selling may be witnessed again, which may take more deeper this time to 3880-3774-3400 zone.
Expect +ve opening with 25-35 Pts gain on Nifty & Intraday stiff resistance @ 4040.
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