Nifty: Resistance 5005/5025-5030/5050/5082/5115
Support 4965/4949/4918/4880/4848
Again a range bound trading. Nifty remained in just 15-20 pts for the maximum time of the day. As we wrote couple of sessions ago, we expect a range bound market this week, ahead of long weekend. Nifty is stuck in a narrow range of 4949-5050, break of this zone will only open doors for any clear direction. Nifty is expected to open flat & a rangebound session within given levels are expected. Intraday below 4965, some booking may set in & above 5005, Nifty may gain some strength, but will face resistance at higher zone. Trading in low volumes till proper trend sets in, is advised.
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