Nifty: Resistance 4905/4936/4949/4990-5005
Support 4880/4848-4832/4800/4777
Nifty ended September month with extended losses. Nifty opened gap down on Friday, though tried to gain momentum by moving in +ve zone, but ended day with 1.5% fall for the day & 13% fall for July-September quarter. Today, again we expect a gap down opening of 40-50 pts in line with Global market. Immediate strong support @ 4880, if held, we may see some stabilizing of fall, else breaching of this zone, may take Nifty towards lower zone of 4848-4832 zone. On upside, Nifty has immediate minor resistance @ 4905, if crosses & sustains, it may move towards 4936-4949. Overall view remains sluggish for the day, with stock specific buying being seen.
Trade with levels.
Happy Trading.
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