Nifty: Resistance 4949-4957/4966/4984/5005/5025/5052
Supports 4908/4893/4858-4848-4838/4818
As written on friday, nifty rebounded from lower area & managed to close above 4900 mark after opening in deep red. With fresh moves by Ambani Bros, market is expected to react positively led by RIL. With +ve global cues, Nifty is expected to open gap up with 25-35 pts. Intraday immediate resistance @ 4966 - 4984... sustaining above it Nifty may try to breach 5005-5025 mark. If nifty closes above 5000, we may expect good short covering upto 5100 mark in this last week of May. On downside, Nifty has good support @ 4848.... till its maintained, Nifty has good chance to keep Bulls hope alive.
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