It was second consecutive sluggish day for Indian Stock Markets. Both benchmark indices traded choppy and closed in red on F&O expiry. For Nifty index bears are having control at the moment and selling pressure may increase below 4800 levels else some recovery may be seen above 4875 level. Nifty may trade in 4700-5100 range for some days.
Tomorrow is the first day for September F&O series and for intraday trading tomorrow, we may see some buying interest but can also expect a sideways movement ahead of the Federal Reserve meeting. For Nifty tomorrow trend deciding level is 4,850. If Nifty shows strength above this levels, then rally to 4,900 - 4,950 - 4,980 may be seen. If Nifty does not show strength above 4,850 levels then selling pressure till 4,800 - 4,760 - 4,725 may also be seen.
Tomorrow is the first day for September F&O series and for intraday trading tomorrow, we may see some buying interest but can also expect a sideways movement ahead of the Federal Reserve meeting. For Nifty tomorrow trend deciding level is 4,850. If Nifty shows strength above this levels, then rally to 4,900 - 4,950 - 4,980 may be seen. If Nifty does not show strength above 4,850 levels then selling pressure till 4,800 - 4,760 - 4,725 may also be seen.
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