Nifty: Resistance 4774/4817/4848/4888/4918
Support 4747/4728/4716
Nifty with all indicators in oversold zone & with support of positive global cues, can give bounce from lower levels.With underperformance by RIL results,the stock may trade under pressure. Nifty may open gap up with 30-45 Pts above initial resistance of 4774.... & will face immediate resistance @ 4817 above that range. If sustained, it may touch 4848. On downside, Nifty has mainteained support of 4747-4738 zone.
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