The market was week as we had envisaged in our earlier post wherein we had stated that the market was not out of the woods. Moreover, the recent rally that might have deceived a lot of people was being lead by technically weak stocks.
The benchmark index will meet resistances at 5557, 5573 and 5595 and supports at 5444, 5430 and 5352.
The outlook for the day is not clear. Intra-day traders are advised to stay away and short-term traders may start taking contrarion positions in September Options.
Mid-term investors may bid HCL tech at 906.05 and 882.65.
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