Nifty Update for July 30 - Inder Bhatia

The Indian markets opened gap-down reacting to RBI's hiking repo and CRR rates. By close the index was negative 142 points.

For the coming session we can expect some bounces as we had touched the 50 percent retracement of the total move from 3790 to 4540. A break below 4164 would take the market to 4097. However, if we cross above 4300, we could touch 4500.