Equities are expected to remain rangebound on Thursday amid mixed global cues, rising crude oil prices and with the August series F&O expiry underway. Investors will also look forward to inflation data, due after market hours Thursday.
The wholesale price index for the week ended Aug 16 is forecast to have risen 12.82 per cent from 12.63 percent a week earlier, raising concerns of further monetary tightening by the Reserve Bank of India.
Intraday, crucial support is at 4270-4245-4223 points. Pivot at 4313 points needs to be sustained for any upside. Resistance is pegged at 4343 and 4375-4387. Unless the 4353 is not crossed decisively, the bears are safe. With August F&O expiry today and inflation figures a concern, caution is advocated,
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