Nifty: Resistance 4848/4888/4913/4939
Support 4831/4805/4777/4747/4700
Nifty opened & traded with gains, but soon volatile session followed with Nifty trading in both -ve & +ve zone. Nifty witnessed buying in noon session & nifty went on towards 4900, though profit booking again set in last half hour to end market with nominal gains.
Today, Nifty may open with 20-25 pts loss in line with Asian market. Immediate support @ 4831 zone. If nifty sustains below this zone, it may see some selling pressure towards 4805-4777 zone. On up side, 4888 is still a stiff resistance. Until Nifty closes above this zone, Nifty is still not in comfortable buy zone. Overall, Nifty seems to be in range of 4800-4888 & till either side breaks, trend may remain rangebound.
Trade with levels.
Happy Trading.
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