Nifty: Resistance 4990-5005/5050/5087/5115
Support 4949/4936/4905/4880/4848
Nifty witnessed selling pressure in line with Global weakness, though nifty managed to close abv 4936 zone. Today, nifty may open gap up with 30-35 pts in line with Asian Peers. Immediate stiff resistance zone @ 4990-5005. If nifty able to cross & sustain this zone, Nifty may see some short covering towards higher resistance zone of 5050+. On lower side, Nifty maintains good support @ 4936-4949. Till holds, Nifty can show bounce backs from dips. Over all we may see some range bound session till either side break of levels is seen.
Trade with levels.
Happy Trading.
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