Nifty: Resistance 4916/4949/4994
Support 4888/4848/4816/4777
Nifty bounced back strongly from support area & as written yesterday, above 4848 showed great movement. Now Nifty enters stiff resistance zone 4916-4949, so traders are advised to be cautious at this zone. Sustaining this zone can finally lead Nifty to 5100-5200 zone. On lower side Nifty now has strong support @ 4816 (closing basis).
Expect +ve opening in Nifty with 25-35 points gain in line with Asian Market
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