Nifty did manage 4715 and 4614 zone perfectly and gave almost 100 point trading range either side, but failed to cross 4715 convincingly again. Nifty is maintaining its upward momentum, but getting restricted @ 4715/30 as well.
As nifty is moving into same range there are not much new to post...
Supports:4675/70 is definitely pivotal and main place for bulls, defending that nifty can show higher levels again. Below that it can come down to 4655-4614.. and breaking 4614, it can bring 4550/60 zone, which is another very strong support for nifty.
Resistance: 4715/31 remains the big hurdle. Above that nifty can easily go up to 4766/82 as shown on figure and witness another resistance for short term. Above that 4802-4848-4920 can come.
As nifty is moving into same range there are not much new to post...
Supports:4675/70 is definitely pivotal and main place for bulls, defending that nifty can show higher levels again. Below that it can come down to 4655-4614.. and breaking 4614, it can bring 4550/60 zone, which is another very strong support for nifty.
Resistance: 4715/31 remains the big hurdle. Above that nifty can easily go up to 4766/82 as shown on figure and witness another resistance for short term. Above that 4802-4848-4920 can come.
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