With the flat to neutralglobalcues ideally market should open flat.With the yesterday’s consolidation within 4783-4729 range we expect steady rise towards 4840-4850 devoid of momentum.However we do not see crossing 4850 unless EUROZONE insulin provide extra dose of momentum & expect it to correct back to 4720-4740 support zone. For the day we see 4720-4730 as the support & 4780-4790 as the initial resistance & cross above 4790will lead to retest of 4840-4850 range.

Bank nifty has been mercurial compared to nifty as usual.Yesterday’s consolidation pattern is more bullish than nifty. For the day we see 8275-8325as initial support & 8425-8475 as initial resistance & cross above of this will lead to 8675-8700.

We recommend buying TATASTEEL  on cross above of 368 with the stop of 356.00 for the target 395 & above in next 15 workingdays.

We recommend buying AXISBANK on cross above 856 with the stop of 842 for the target of 898 &955 in next 12 days.