Nifty: Resistance 4888/4913/4939/4968
Support 4848-4831/4805/4777/4747
Nifty opened gap up with Global market & gained momentum through out the day, with crossing resistance zone of 4820. Though nifty lacked volume @ higher zone. Today, nifty may again open on flat/+ve note. Immediate resistance @ 4888. Nifty may witness some booking from resistance zone, so we would advise traders to avoid buying at higher zone & wait for 4888 to cross & sustain to initiate fresh long trades. Below 4848-4834, if sustained, some profit booking may set in. Stock specific trades in R-pack & IT stocks may be seen.
Trade with levels.
Happy Trading.
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