Nifty: Resistance 5050/5084/5100/5115-5120
Support 5035-5025/5005/4994-4982/4963/4949/4936
As written & expected Nifty didn't sustained above 5120 ( closing 5119.95 ). Remember our Friday's msg : " Closing above 5120, Nifty may turn strong for 5200+ tgt area " .... & now Dow cracked over 3%.
Intraday Nifty may open with deep crack of 70-100 Pts, after Global Market turmoil. Immediate important support @ 4994-4982 range.... which if held may show some recovery. Immediate resistance pegged @ 5050 range.Avoid shorting at lower areas near support zone.
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