Support 4774-4763/4738-4730/4716
Nifty remained in -ve zone whole day but traded in a narrow range of 4800-4850 levels.With extreme weak gloabal cues, expect a gap down opening of 40-50 Pts in Nifty. If Nifty holds 4738-30 levels on downside, expect some releif rally. Today also being crucial day of October month's expiry, we may see some stock specific action. On upside, immediate resistance is pegged @ 4848 levels.
Please see Nifty chart attached blw, to show the effect of trendline breakdown that we spoke of few days back.
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