Nifty: Resistance 5007/5045-5050/5088/5115
Support 4951-4949/4912/4884
As expected & wrote yesterday, below 5045 nifty witnessed a deep cut, with the help of weak global cues. For intraday, eyes on 4949, if held, can offer some bounce (relief rally). Else we may see Nifty slipping to lower support levels. On upside, immediate Resistance @ 5007 & stiff resistance @ 5050. Expect -ve opening, inline with Asian market.
With Assocham suggestion to Impose 2 pc tax on FIIs on the block...... it MAY show some impact on our market in sessions to come.
Keep eyes on Educomp, looks good abv 771...
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