Support 4917/4888/4848/4812
Nifty had a high volatile session. With initial gap down in morning session, it witnessed a mid-noon recovery to touch green mark, but selling pressure was visible at higher zone, making Nifty ending finally with loss for consecutive week. Today, again Nifty may open flat in line with Asian market. Immediate resistance @ 4949, if nifty sustains above it, Nifty may head towards 4963-4990+ zone. On lower side, support pegged @ 4917-4910 zone. Break & sustain below it, nifty may head towards fresh lows towards 4848-4800 zone. Technically, Nifty is @ highly oversold zone, a small bounce back can be seen before fresh selling pressure sets in.
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Find Below Nifty Chart.
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