Nifty: Resistance 4880/4932/4949-4955/4990/5005
Support 4850/4827/4800-4770/4743
Nifty in line with Global market, witnessed panic sell off. Nifty / Sensex witnessed one of the biggest fall [%age wise] since Aug 2009. Nifty breached support of 4990 too & a sell off was witnessed there after. Today, Nifty may again open gap down with 40-50 pts fall. Immediate strong support @ 4850. Nifty sentiments are highly bearish at the moment & testing of support zone @ 4800-4770 also not ruled out. Nifty trend decider support pegged @ 4800-4770 [closing basis], below this more selling pressure may be witnessed. Nifty if crosses above 4949-4955 zone, we may see some buying coming in & short covering may be witnessed.
Trade with levels.
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