Indian stock markets are likely to remain range bound in today’s trading session.

After opening with a gain of 494.41 points, at 14,978.24 on Monday (Sep 08), the market traded in a range bound manner all through the day.

At last, the BSE Sensex ended the day at 14,944.97, up 461.14 points, after hitting a high of 15,107.01 and a low of 14,917.06. The broad-based NSE Nifty gained 130 points at 4,482.30 after touching a high of 4,558 and a low of 4,358.30.

Stock market analyst Vishwas Agarwal said that stock market is in safe trading zone with BSE above 14,786 level, where the market will witness stock specific action rather than entire market mounting.

“NSG clearance plus the world market gave a gap opening to the market on Monday. I believe there are huge opportunities to come,” Mr. Agarwal added.

Mr. P. K. Agarwal, president - research, Bonanza Portfolio, stated, “Indian markets opened strong, and went onto make newer highs during the day, supported by the news of NSG waiver to India on Saturday.``

Nifty touched an intra-day high of 4,558 and ended the day at 4,482.

The major gainers’ on the list included Power, Capital Goods and Sugar sector, after SC ruled MSP of cane at Rs110/quintal.

Mr. Agarwal said, “Nifty faces strong resistance at 4,550 level, on down side 4,400 to provide support.”

He also advised that traders should continue to hold long positions with strict stop losses.