Pri Market Commentary ...

Today,after three days of consecutive declines, some pull back is not ruled out. However, markets are still nervous with macro-economic environment worsening. Inflation continues to remain high, and there are fears that interest rates may also rise. Lack of fresh buying is also a cause for concern. So, any rise should be used as an opportunity to lighten the positions. With crucial support levels being broken, we expect Nifty to test 4,100 levels in the near term.

Minor pull back is possible before a further downward move.Strategy for the week
will be remains to exit on a rally to Weekly resistance levels. Traders can benefit from trading opportunities to trade long but ensure to exit on minor pull-backs at weekly resistance levels.