Nifty started the day with a gap down below 4535, ans so started the severe sell off. It just could not find any support for shortest period and kept sliding hence initiating a bigger/impulse down move. Nifty closed weak of course and looks like a short in any up move for the coming session too.
Supports: 4320/23 seems like a intermediate support zone, but after today move, it's better to look for resistances from intra trading perspective. Below it 4262-45 & 4210/09 will play a crucial role.
Resistances:4440-4480/85-4501/10 are places to initiate shorts on a bounce.
Supports: 4320/23 seems like a intermediate support zone, but after today move, it's better to look for resistances from intra trading perspective. Below it 4262-45 & 4210/09 will play a crucial role.
Resistances:4440-4480/85-4501/10 are places to initiate shorts on a bounce.
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