Nifty: Resistance 4936-4949/4999/5005/5050
Support 4888/4848/4830-4820/4804
Nifty opened -ve in line with weak Asian Markets. Markets were disappointed after European Union leaders failed to get all of the bloc's 27 members to back a change in the EU treaty to tighten their fiscal coordination. Nifty tried to bounce back from lower zone & went pass 4900 mark, but closed lower in final hour.
Today, Nifty may open marginal gap up with 25-30 pts gain, in line with Asian market. Immediate resistance @ 4936-4949 zone. If Nifty sustain above this zone, it may show some more bounce back towards 4999-5005 zone. On lower side, Nifty keeps bounce back hopes alive till it holds 4820 on lower side. Immediate support pegged @ 4880 in gap up.
Trade with levels.
Happy Trading.
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