Nifty may trade between 8620-8640: Indira Securities

Indira Securities’ Market Report:

Indian equity markets closed with significants gains in Wednesday's trade. The trade was on optimistic note after reports suggested that aided by last minute payment of Rs 10,808 crore by telecom companies for spectrum and tax receipts in March, the government is believed to have achieved the challenging fiscal deficit target of 4.1 percent of GDP for 2014-15.

Traders were seen piling positions in Bankex, FMCG and Infra stocks while selling was witnessed in IT, TECK and Oil & Gas sector stocks.

For today's trade Nifty likely to trade in the range between 8620 – 8640 in the upper side and 8560 – 8540 in the lower side.

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