Nifty: Resistance 4949/4990-5005/5050/5089
Support 4936/4905/4880/4848/4832
Nifty had a good start with buying seen in stocks, which took nifty pass 5000 & crossed 5030 mark. Though in noon, selling pressure was witnessed post EU opening & Nifty cracked almost 100++ pts from high & managed to close almost flat. Today, we may again see +ve opening with 10-15 pts gain in line with Global market. Immediate resistance again pegged @ 4990-5005 zone. If sustained above this zone, nifty may see some more upside swing towards 5040-5050 zone, from where it may see some selling pressure again if not crossed. On lower side, immediate support pegged @ 4936, below it @ 4905-4880 is a strong support zone. If held, it may see some buying coming in. Overall we may see some range bound spikes in 4880-5100 zone in coming sessions to come ahead of, so traders are advised to trade with caution & be hedged .
Trade with levels.
Happy Trading
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