Nifty: Resistance 4936/4949/4990/5005/5050
Support 4913/4880/4848/4832/4813
Nifty witnessed some volatile moves & dipped in initial trading hour before some short covering was witnessed and amid speculation that the US Fed will announce further measures to stimulate US economy.Today, nifty may open gap down with 20-25 pts in line with Asian market. Immediate support pegged @ 4913... if sustained below this, nifty may see more slide towards 4880 & lower levels. Immediate resistance @ 4936-4949 range. Sustaining above this, we may see some more short covering coming in. Technically nifty upside looks capped [will keep updated with levels]
Ahead of Expiry & Fed Meet... we may see some volatile moves. Avoid Leverage trading [ buying side ]
Trade with levels.
Happy Trading.
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