The NSE Nifty is expected to open slightly lower

Thursday, January 12, 2012

The NSE Nifty is expected to open slightly lower and may try to take a support around the Critical level of 4835.The market after the initial volatility will wait for the IIP data to show a clear trend.The index may show a trading range between the first support at 4798 and the resistance at 4896 based on the IIP figures.However if the benchmark looses its support at 4798,fresh selling can take it towards the next support at 4764 and if index trades above 4896 with the help of any +ve surprise from IIP can lead the index towards 4922