The Nifty closed convincingly above 4,560 at 4,643 and is expected to close above 4,700 in a day or two.
Though there has been no long build-up recently, short-covering by foreign institutional investors (FIIs) and buying by domestic institutional investors (DIIs) in the cash segment may help the Nifty close above 4,700 in this expiry.
The Nifty Likely to revisit 4,500 before this expiry as the rally has not been backed by good volumes.
Markets likely to be in consolidation mode with negative bias. Do not take heavy long positions and trade with stop loss and be cautious.
Hcl tech and IB real estate likely to be in focus. Watch out small cap stocks which are beaten heavily and accumulate for sharp gains.
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