Nifty : Resistance 5005/5022/5035-5050/5070
Support 4949/4910-4901/4885/4847/4820
Nifty took support from lower range & showed smart recovery led by banks & real estate sector on back of some short covering on last day of expiry. Short term traders are advised to be extremely stock specific. For today, Nifty has strong supp @ 4910-01 range, if Nifty goes there, risky traders may try that zone as a buying are for some bounce. Over all, upside looks limited & correction is now overdue. Any correction will be healthy for market for a better upside rally. Also earnings season coming ahead.
Expect -ve opening with 25-35 Pts on Nifty in line with Asian Mkt.
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