Nifty: Resistance 4999-5005/5050/5084
Support 4963/4949/4913/4905
Nifty traded in a range of 4940-4980 for maximum time of the day, with finally closing flat with -ve note. RIL surged over 4% on buyback news. Today, Nifty may open gap up inline with Asian market. Expect immediate resistance @ 4999-5005 zone. Expect fresh upmove to trigger above 5005 [closing basis]. If nifty is not able to hold on this level, then it may witness selling pressure. Immediate strong supp @ 4949-4931. Below this level, Nifty may see 4905, & further below zone of 4888. Below 4888, game changes for Bulls.
Trade with levels.
Happy Trading.
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