The Indian markets have begun the day on a cautious note. While buying activity is being witnessed in stocks from the capital goods and consumer durable sectors, selling activity is being witnessed in stocks from the banking space.
On the higher side, 3035/9840 on Nifty may act as a major hurdle for the market and traders should be cautious around these levels while entering into any fresh long positions. In case the market sustains below 2880/9460 then it may weaken further to the levels 2840/2810. However dismissal of the 2810 may lead to all round liquidation of trading long positions. Our advice is the long traders should be alert and prepared to exit out long positions below the same.
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