Nifty: Resistance 4777/4815/4836-4840/4888
Support 4747/4725/4696/4666/4620
Nifty opened +ve in line with Asian market after the news of new EU inter-governmental treaty, the modalities of which were worked out over the weekend. Though, Nifty slipped into red after disastrous IIP data [-5.5% Vs 11% YoY] were announced. Nifty went below 4800 mark post EU market weak opening. Today, Nifty may open gap down with 30-35 pts in line with Asian market. Immediate good support @ 4747-4725 zone. If held, Nifty may see some retracement. On upside, immediate resistance @ 4777, If nifty crosses this & sustains, can see some pullback towards 4820-4840 zone. Sustaining below 4700 nifty gets weak for more fall.
Trade with levels.
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