Nifty: Resistance 4990-5005/5035-5050/5094/5115
Support 4949-4936/4905/4880/4848
Nifty witnessed a huge rally inline with Global rally. As written, nifty once crossed & sustained 4905, witnessed good move towards 4990 & ended day with good gains of 2.8%. Today, Nifty may open +ve with 30-35 pts gains inline with Asian market. Immediate strong resistance @ 4990-5005. If cross & sustains this zone, nifty may see some more +ve move towards next resistance zone 5035-5050. On lower side, 4949-4936 is strong support zone. Below this some profit booking may set in. Although, we too expect profit booking from higher zone, after a steep move from support zone of 4800.
Trade with levels.
Happy Trading.
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