Nifty futures may open 20 points lower at 8605: Dynamic Levels

Dynamic Levels' Market Outlook:Nifty to stay in the range of 8550-8700 as Yellen fails to clarify on timing of rate hikeIndian Market Outlook: The last three weeks have been range bound for Nifty as it has been unable to move out of the range of 8750 on the upside and 8500 on the downside. This has resulted in he lost momentum which has neutralized both the bulls and the bears. There are no major events and Nifty can be range bound. NSE IT Index might remain weak while Bank Nifty may hold above the previous breakout level of 19200. Nifty major support level is 8530-8550 which is its four week low and with FII being big buyers in cash market it is a good buying opportunity.Top five gainers for yesterday were Tata Motor DVR, Tata Motors, Bharti Infratel, Asian Paints and Reliance Industries.Nifty Futures is expected to open at 8605 as per SGX Nifty at 8:30 am IST, which is 20 points below its previous close of 8625.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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