Nifty: Resistance 4936/4949/4999/5005/5050
Support 4913/4880/4845/4832/4800
Nifty held on to crucial support zone @ 4800 & with the help of short covering nifty went pass 4900 mark to close above it. Today, Nifty may open gap up with 25-30 pts gain. Immediate resistance pegged @ 4936-4949 range. If nifty sustains above this zone, short covering lead to more upside towards 4990-5000 zone. On lower side, nifty has strong support @ 4880, till hold on to this level, bounce back from lower levels are possible. Breaking & sustaining below this zone, Nifty may see some more booking set in.
Ahead of expiry, we may see some volatile moves.
Trade with levels.
Happy Trading.
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