After the sudden fall on 29th nifty managed really well to recover yesterday and covered almost all the losses it experienced. As discussed on yesterday's post nifty made a low of 4473 (given 4475) and crossed 4535 as well. As nifty has managed to complete a BC=1.618*AB move at 4535, it's bullish to test at least 4589/92 and decide further moves for the day. But it can really go up and break the 4610 barrier this time to target higher prices. So for the coming session,
Supports: 4535-30 is pivotal and important for nifty to maintain the uptrend in intra too. Below that it can some intra weakness by targeting 4505/4495-4475.
Resistances: As shown on chart it can really become quite bullish after crossing 4589/92 zone, and target 4610/19-4665/77-4706-4731-4765/67 zones.
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