Nifty: Resistance 4646/4666/4707-4716/4747
Support 4604/4594/4578/4555-4554/4500/4488
Nifty after remaining in a 10-15 pt range from 4725-4740 for almost 2 hrs, gave "Steep" fall there after. It was " A bolt from the blue" for bulls.Seems nifty has made a short term Top.
Today keep eye on 4594 as important support area, below a minor support exists @ 4578. Below 4555, we may see 4500-4488. On upside 4747 again remain as critical resistance zone for bulls to sustain.
Expect a -ve opening with 25-30 Pts on Nifty in line with Asian Mkt.
Yesterday, we highlighted 4747 as Stiff Resistance & 4594 As Strong Support in our intraday view -- See High 4646.9 & Low 4596.1-- Hows Perfection.
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