Expect a strong opening: Karvy

According to Karvy Stock Broking Technical Analysis report, Domestic indices may witness a strong opening and some short covering is likely to emerge post the lower than expected inflation data.

Karvy Stock Broking Technical Analysis report:

World markets have ended on a positive note. Domestic indices may witness a strong opening and some short covering is likely to emerge post the lower than expected inflation data. Resistances are placed at the 13500/4050 levels. The weekly charts have seen three consecutive candles with lower shadows which indicates that the sub 12000 levels invites continued buying interest which may validate our viewpoint of an intermediate bottom.

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