Nifty Update for July 3 - Inder Bhatia

The Indian market closed in the green zone. The market saw short covering and a smart rally across the board. As we expected that a relief rally should be there, the same thing happened and we had a good move on Nifty, which bounced back from 3861. The main thing however is whether this rally would fizzle out or will it move further? For coming session, 4177 is a key level to watch. If we cross and close above this, Nifty could test around 4300. On the lower side 4040–3970 would act as strong support zone.

HOT BUY: Buy BHEL above 1439,; TGT 1472 > 1493; Stoploss 1406.