According to Way2Wealth.com, Markets are expected to open on flat note in today's session and thereafter will continue to trade in 6650- 6740 levels.
Yesterday it was quite a high volatile day for indicant bourses where indices opened on negative note but saw short covering coupled with fresh buying that help indices to test 6740 levels in intraday session. However, once again indices failed to sustain at higher levels and saw profit booking from higher levels and finally nifty closed on flat note up by only 4 points.
Fresh long positions were added in bank Nifty fut. whereas Nifty closed on flat note with no major changes in OI. Long accumulation was seen in banking and oil & gas sector. Major buying was seen in stocks like Canara Bank , Century Textiles , Allahabad Bank , BPCL , Axis Bank and ONGC .
Short unwinding was seen in metal sector and stocks like JSW Energy , Asian Paints , Jindal Steel , Tata Steel and Power Finance .
Selling pressure was seen in stocks like HCL Tech , Sun TV , IRB Infra , Glenmark , Reliance Communications and Bharti Airtel .
Markets are expected to open on flat note in today's session and thereafter will continue to trade in 6650- 6740 levels. On higher side call writing at 6800 will act as immediate resistance whereas on lower end 6640-6600 will prove as strong support for indices in short term.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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