Be stock specific.....

The market ended near the day's lows, following major losses in oil & gas, metal and banking stocks on the back of weak global cues from Asian and European market. SENSEX closed at 17471, down 143 points and Nifty at 5241, down 47 points from the previous close.

The US markets are closed in green and the Asian markets are also trading at higher. We expect a higher opening on the back of strong global cues.

In today's session Nifty is expected to attract buying at lower levels 5200-5220 and sustaining above 5280 may attract more buying. However 5165 may act as a strong support level while 5300 -5320 are strong resistance zone for the next session.

For now 5150-5390 is a range for market in short term, Only a move below 5150 should be a caution signal for stock specific longs. On other side 5400-5450 is a medium term resistance zone for nifty.

Expect stock specific moves to continue with slow moves on index. Traders are suggested to avoid Leverage and be strict with stoplosses.