Nifty has shown a good consolidation for almost two sessions from its highs. We can expect buying to initiate again at current levels. For short term, 4400-4420 levels will play an important role for future Nifty trends. We expect that Nifty will move upwards from these support levels. In this case the resistance levels will be 4650-4700 levels. Below 4400, we suggest to book longs as the next support falls at 4050 to 4100 levels.
If Nifty closes above 4620 mark on Monday, we may witness a smart bull run making Nifty to touch new highs of 4900-5000 mark. We may see good money inflows & large cap stocks buying if Nifty closes above 4620 mark on Monday.
Buy RCAPT, HDIL, UNITECH, GMR Infra, SATYAM and few front liners for quick returns with SL of 5% n targets of 10% to 25%.
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