Today, we expect a higher opening, buoyed by firm global markets. The Nifty will remain choppy and rangebound broadly between 4800-4900. Support is expected at 4770-4780 while resistance is likely to kick in at 4950-5000. There is a chance that the Nifty could go as low as 4600, especially if global cues deteriorate further. So, trade cautiously and invest carefully. Or stay on sidelines till the near-term uncertainty subsides.
NTPC FPO opens today while Infinite Computers will make its debut.Could we see history getting repeated today on the bourses? Will the market erase gains once again after an initial spurt? Well, many might be asking these questions as the market has turned topsy turvy of late. The market suddenly slipped on Tuesday after a higher start amid persistent selling by FIIs. Even the local funds, which have been countering the sudden reversal in FII flows, were rather circumspect. Broadly, the market remains in a consolidation mode without a clear bias. Volatility is here to stay, at least in the near term, amid external concerns and anxiety over the upcoming Budget.
