Nifty may see some short-lived rally today. Key support and resistances seen at 4150/4200 and at 4300/4400.
Expect volatility to continue (hence keep short targets and strict stop losses) till expiry. Hence, for intraday trades, recommend taking options positions instead of Futures. A 4300 call at 45-48 levels looks good with targets of 70/80. Keep stop loss at 35.
News based call - Orchid Chemicals may see some action with targets of 255 (238 current levels).
