With the positive global cues ideally market should open gap up. But we do not expect that euphoria as the large part of these were discounted in yesterday’s price surge. However we are positive on market & after consolidating in first half, later half should exhibit rising trend. For the day we see 4720-4730 as the support & do not expect to breach downside barring unforeseen circumstances. On the upside market should attempt to test 4830-4840 resistance.

                    Bank nifty has been mercurial compared to nifty as usual. For the day we see 8550-8600 as initial resistance & 8200-8250 as initial support.

We recommend buying CAIRN around 328 with the stop of 310.00 for the target 370 in next 15 working days.

We recommend buying HINDALCO around 116 with the stop of 111.00 for the target of 136.