Nifty may find support at 2860/2800/2750 and face resistance at 3100/3250

Following weak global cues, Indian markets traded flat with downward bias. Nifty went to a low of 2,860 but bounced from there. During the post noon session, positive Asian cues resulted in a rally developing in Indian markets. Nifty went to high of 3,010 and closed at 2,973. Good buying was seen in beaten down Metals, Oil & Gas and Power sectors. Suzlon, Nalco, Power Grid, Reliance Infra were among heavyweight gainers. Selling was seen in Tata Comm, Siemens, ABB, M&M.``
Nifty has support at 2,940/2,860,( on breaking 2860 2800/2750 ), on upside resistance can be at 3,000/3,050/3150/3250 levels. Traders are advised strict stop-losses. Investors can use the opportunity to create folio for long term.``