Nifty: Resistance 5032/5051/5077/5111
Support 4949/4891-4880/4865/4848/4804
Nifty saw a "V" shape recovery from its support area & moved exactly 100% as expected (Above 4949, Nifty toouched 5000+ zone). BUT, this rise is lacking volumes to support. We maintain our earlier view that, till 5050 zone is not breached, Nifty is still not in safe hands. Intraday expect flat/-ve opening in line with Asian market, with immediate resistance @ 5051 & support @ 4949.
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