We have seen huge selloff on markets due to overbought situation; it is a good sign for a healthier market. Nifty may face some more pain. Banking, metal, oil & gas stocks may witness selloff.exporters like IT and Gems and Jewelers stocks may get firm support due to weak rupee.
Nifty will have support at 4379. Below it may test 4289 and 4200 levels. On the north 4565 will be a major hurdle.
July 4600 long straddle costs more than 500 rupees suggesting highly volatile movement ahead of budget on cards.
Investors those who missed the investment vehicle are going to set fresh opportunity once again, use it wisely.
