Nifty may trade between 8390-8420: Indira Securities

Indira Securities’ Market Report:

Indian equity markets added gains to continue their firm trade in the late afternoon session, with the broader 50-share Nifty reclaiming 8400 level for the first time since April 24, on account of buying in frontline blue chip counters. The sentiments were on optimistic note on forecast of timely monsoon coupled with the government containing the fiscal deficit at 4 percent of the GDP for 2014-15. Traders were seen piling position in IT, TECK and capital goods stocks.

For today’s trade Nifty likely to trade in the range between 8390 – 8420 in the upper side and 8340 – 8320 in the lower side.

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