NIfty once again traded from the level of 3723, but could not maintain beyond that level.

However, this has clarified that stock markets are going through distribution pattern at higher levels.

At this time, the outlook still remains precautious as Nifty is caught in the range of 3500-3730.

A new development will appear only if nifty future breaches this range.

Till then investors are advised to keep away from the market till the election results are out.

The near term support for Nifty is at 3500, and breaching this level can take nifty future to 3250.