Nifty: Resistance 4848/4888/4907/4945
Support 4816/4780-74/4747/4718/4680/4666
Nifty trading at year high, overtaking all fundamental sense of market. Nifty is now due for a correction in coming days. Trade with cautious at higher levels. For the day, Nifty may open -ve with weak & some bounce from 4780-47 range can be expected if Nifty open near to that level. On the daily charts, the two candlestick patterns viz. the Shooting star followed by Doji reflects that the markets are cautious at higher levels. Critical resistance @ 4888 on upside.
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