Nifty: Resistance 5007/5022/5050/5070/5101
Support 4994/4980/4949/4931/4901/4885
Nifty spent most of its time in just a 15 Pt range of 4990-5005. Nifty lacked volume, so all positional long traders are advised to maintain Strict SL @ 4885 for there longs. Nifty being giving a rangebound / sideways movement, its getting highly risky for both Bulls/Bears to take positions.
For intraday, Nifty faces stiff resis @ 5022, abv it, if sustained 5050 is possible.On lower side, Nifty has strong supp @ 4994/4980, blw it 4949 can be expected.
Expect flat/-ve opening, with mixed sentiments from Asian Mkt.
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