Expect market to trade between 8670-8690: Indira Securities

Indira Securities’ Market Report:

Local equity markets, which resumed trade after a long weekend, witnessed hefty gains of around three fourth of a percent on Monday on last hour buying activity which lifted both Sensex and Nifty above psychologically crucial 28,450 and 8,650 levels respectively. What started as a slow session of trade turned out to a fruitful one, with benchmarks witnessingaccelerated momentum in the last hour of trade as buying picked pace on hopes of RBI slashing rates in its upcoming first bi-monthly monetary policy 2015-16, which is scheduled to be held today.

Meanwhile, the session also was heartening for broader indices, which outperforming larger counterparts, went home with gains of around 1-1.35 percent. For today's trade Nifty likely to trade in the range between 8670 – 8690 on the upper side and 8640 – 8620 on the lower side.

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