Nifty: Resistance 4949/4990-5005/5035-5050
Support 4905-4880/4848-4832/4804
Nifty had a quiet rangebound session. Nifty remained in just a 25-30 pts range for the maximum time of the day ahead of expiry. Today, Nifty may open marginal gap down with15-20 pts in line with Asian market. Being expiry, we may see a rangebound session with stock specific moves. Intraday immediate support @ 4905-4880 zone. Sustaining below this zone, nifty may see some more profit booking setting in towards 4848-4832. On upside, resistance @ 4949... sustaining above this zone, nifty may track upside towards 4990-5005 zone, where fresh selling pressure may be seen.
Avoid leverage trading today on account of Expiry, as we expect some volatile moves.
Trade with levels.
Happy Trading.
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