Nifty is expected to open in the positive in line with global markets. It will again face resistance near levels of 3390-3410 and some profit booking can be seen at these levels due to lots of newsflow and results in the coming week. Traders are advised not to take any long positions ahead of the results. A close above 3400 will be highly bullish for Nifty, however, it is better to avoid any long positions as Tuesday is a holiday. Aggressive traders may sell below 3340 Nifty future. Safe traders may wait for Nifty future to break 3300 for a target of 3250.
Nifty Resistance at 3340-3385-3410-3430. Support at 3320-3295-3245
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