Out look for Wednesday

"As predicted Nifty exactly took support around 4250 and since bears could not press sales beyond this level, had to cover during the day and at the end of the trading, which is quite evident from the vanishing of 20 point discount of nifty futures and finally turning in to a premium of 2 points. An important point to be observed is that the short covering and minor net long positions had resulted in recovery of the indices, and closing in positive territory finally."

Inflation and interest rate concerns till haunt the markets around the world including our markets since we are part of global economy and also to the fact that FIIs are major players who give much importance to these factors. The volatility should continue for few more days may be one more week, after which a clear trend shall emerge, mostly on positive side for our markets, since all other factors of economy are in place.

The day's range for Nifty shall be 4250 (Support) and 4350 (Resistance); Sensex shall be 14400 (Support) and 14700 (Resistance)