Nifty: Resistance 4624/4666/4676/4697/4727
Support 4585/4555/4514/4484
Nifty had an extreme volatile session, with a steep fall witnessed in last minutes, which pushed Nifty to almost 28 months low. Nifty today, may open with steep gains of 90-100 pts gain. Nifty has resistance @ 4666. If sustains, Nifty can see some more upside till 4697/4727 [max]. Over all this upside, can be termed as a "dead cat bounce". More short covering only above 4745, else, nifty may see selling pressure back from higher levels. On lower side, Nifty has intraday support @ 4555-4514, below this, panic fall may set in.
Trade with levels.
Happy Trading.
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