Nifty: Resistance 4848/4888/4936-4949/4963
Support 4812/4800/4777/4725
Nifty closed in red after a range-bound volatile session. Global sentiments added weakness to Nifty fall & selling pressure was seen. Technically, Nifty is in highly oversold zone. Nifty may open with gap up of 20-25 pts. Sustaining above 4848, some rally may set in towards 4888-4900+ zone. A close sustaining above 4936-4949, nifty can move further upside towards 4990-5000+ zone, lead by short covering. On lower side, Nifty has good support @ 4812-4777 zone. Till its holding on closing basis, Nifty looks good in dips for a good bounce back.
Trade with levels.
Happy Trading.
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