Nifty: Resistance 4970/4994/5005/5022/5034
Support 4949/4930/4884/4820/4782/4755
And finally Nifty showed some corrective move & closed blw 4970 with good volumes. Now Nifty has immediate support @ 4884, below it if closed, a short term correction will be confirmed. Today being settlement of September F&O series, we may see some stock specific movements. On the daily charts, momentum oscillators viz. the RSI and the Stochastic have given a negative crossover which suggests there could be some more downside going ahead. Expect -ve opening with 25-30 Pts inline with Asian Market & important support @ 4884.
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