Nifty: Resistance 4888/4936-4949/4963/4990
Support 4848/4812/4800/4777
Nifty opened weak in the morning trade but surged in late trade as strong Q4 results from banking giant State Bank of India lifted sentiment. Nifty bounced from support zone & technically, we may see more bounce back above 4936 now. Today, Nifty may open flat/-ve inline with Asian market. It has good intra support pegged @ 4848. Till nifty is sustaining above this zone, it keeps its bounce back hopes alive in dips. On upside, sustaining above 4936-4949, nifty can move further upside towards 4990-5000+ zone. On lower side, below 4848, Nifty may slide to 4830-4800 & lower zone.
Trade with levels.
Happy Trading.
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