Nifty Expiry time

The market has opened on a negative note. The Nifty on
the daily chart is trading in a range of 4450 and 4250,
which are crucial levels. We expect the momentum to be
positive and volatility on intraday basis. Market breadth
is positive with 581 advances and 535 declines. Daily
momentum indicator has given a negative crossover and
is trading above the zero line. On the daily charts, support
at 4235 and strong resistance at 4435 are indicated.
On the hourly charts, an inverted head & shoulder pattern
has formed with a support at 4248 and resistance at 4400.
The momentum indicator has given a positive crossover
and is trading above the zero line. Strong support at 4275
and a very strong resistance at 4331 are indicated on the
hourly charts.


Tata Steel has gained momentum and is likely to test Rs650
on the upside. Infosys seems to be having support around
Rs1,695 and on the upside is likely to test Rs1,850. Metal
sector has gained momentum and is expected to move
upward.