Nifty: Resistance 4949/4990/5010/5050
Support 4936/4912/4888/4848/4828
Nifty opened with spike gap up in line with global peers. Nifty went pass 5000 mark in initial trading hour, but resistance was visible at those levels. Nifty witnessed some selling pressure in later half & closed near day low.
For today, Nifty may open with flat gains. Nifty has immediate support @ 4936, if sustains below this levels, Nifty may see some more selling pressure towards 4912-4888 & lower zone. On upside, Nifty has resistance @ 4990-5010 zone, until closes above this zone, nifty may continue to face resistance/selling pressure at higher levels. Overall, Nifty looks weak, with rangebound moves.
Trade with levels.
Happy Trading.
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