Nifty: Resistance 4800/4832/4848/4888/4915
Support 4770/4745/4721/4700/4666
Nifty closed in +ve zone after 9 consecutive negative closes. Nifty faced resistance @ 4848 zone & slipped thrice during the day & finally closed near 4800.
Today, Nifty may open -ve with 30-40 pts gap down in line with Asian Market. Immediate strong support @ 4770, if breaks & sustains below this zone, Nifty may slip further towards 4745 & 4721 zone. Nifty has strong base support @ 4721-4700 zone, which has been held in all resent falls. If this breaks too, nifty may enter into panic zone & sell off may trigger Nifty towards 4666-4600 or even lower zone. On upside, to keep Nifty ticking for +ve moves, it needs to sustain/close above 4848 zone. Above this, Nifty may head towards 4915-4973 zone.
Overall Banking/Reality/Steel sector looks bearish.
Trade with levels.
Happy Trading.
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