Support 5005-5000/4963/4949/4936
Fresh concerns over global economic recovery disturbed stock markets on Monday. Today, nifty may open -ve with 25-30 pts in line with Asian markets. Immediate support in gap down opening pegged @ 4975. Intraday traders may look to trade on long side till 4949 is held. On upper side, 5025 will offer resistance to upside swings. Till nifty is not able to break & sustain above 5050, we may see some selling pressure setting in on higher side. On flip side, if nifty closes & sustains above this zone, we may see some more upmove towards 5150 zone coming, in days to come.
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