Equities are likely to remain subdued on Tuesday in line with trailing global markets as renewed global credit concerns began to hound investors. With the August series derivatives contract expiry due Thursday, trade is likely to remain volatile.
Intraday, pivot is at 4363 which if sustained can test 4409 points. Below 4295 points, immediate support is at 4220-4245 and resistance is at 4430-4445. Indecision prevails as both the bulls and the bears are lacking confidence. A churning along with holding patience of the small players is going on. As a result, choppy trading in a narrow range is witnessed. Be careful to avoid getting trapped
Tuesday, August 26, 2008
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