Nifty: Resistance 5050/5084/5111/5151/5165
Support 5020/5000-4990/4950/4913
Nifty remained quiet confused & some violent volatile moves were visible in 5000-5084 range.2 days back we wrote of Nifty shedding 100 pts below 5150 mark & Nifty did 100% exactly. Nifty went below 5000 mark in just 2 sessions once it broke 5150 mark.
Today, Nifty may open flat/-ve in line with Asian market. Nifty has strong supp @ 5000-4950 zone now, which is expected to hold this downtrend on immediate basis & offer some bounce back to 5150-5200 zone. Sustaining below 4950, Nifty may head down towards 4800-4700 zone.Traders may buy dips till 4950 holds. Immediate resistance @ 5084, if sustains, Nifty may head towards 5115-5150+ zone. On lower side 4990 & 4950 are very strong support zone for above mentioned bounce back zones.
Trade with levels.
Happy Trading.
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