Nifty: Resistance 4718-4722/4738-4747/4777-4783/4819
Support 4664/4646/4627/4604/4594/4555
BankNifty: Resistance 8530/8640 , Support 8420/8333
100% Nifty movement was seen as expected & wrote by us yesterday " we are warning to not to short here, as all indicators are now in badly oversold state & some good bounce back can be seen".Nifty saw massive bounce back of 146 Pts. For today, Nifty now has immediate resistance @ 4738-4747 range, above it if sustained, Nifty can see some more recovery. Nifty if opens gap down near 4664 zone, can see some support taking from there & hence some bounce back can be seen. Expect flat/-ve opening.
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