Angel Broking: Nifty key level is 3235

Angel Broking in its market outlook says that the Indices are expected to open on a positive note.

The trend deciding level for the day is 3235/11090. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally upto 3285/11242 levels.

If Nifty manages to trade above 3285/11242 expect a further rally upto 3315/11333.

However, if Nifty trades below 3235/11090 for the first half-an-hour of trade then it may correct upto 3205-3180/10993-10932.

After a strong breakout with the support of good volumes, a pullback cannot be ruled out. However, Indices should hold the level of 3235/11081for the uptrend to remain intact.