Golden Investment Research (P) Limited
Goldennifty says:
``Nifty has bounced strongly from low of 4,531 above the strong support zone of 4,650-4,700. However, there is strong selling interest at 4,800-4,850; thus in consolidation mode at 4,650-4,850. The investor appetite has shifted to fixed income while equity market continues to remain in bear phase. The domestic appetite is low driven by weak domestic fundamentals and no support is seen from foreign investors. FIIs will continue to stay away when market dynamics are tossed up between low growth and weak rupee,``
``The near term trend is weak for test/break of 4,500 for final pit stop at 4,350-4,250 from where a strong rebound is preferred. The strategy is to play end-to-end of 4,350-4,850 with stop on test/break thereof. Strategic investors can stay aside to buy in 3 lots around 4,550/4,400/4,250. The shift of stance of RBI from anti-inflation to pro-growth provides some kind of relief to the bulls while bears continue to hold reins.``
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