It touched 4829 (resistance given 4825) before reacting today, and nifty and bank nifty both are nearing bigger resistances. And as budget is in the corner we can expect a bigger move on wither side (technically down from resistances).
Supports: The shorter term impulse and longer term corrective is unchanged till 4960-4985 is crossed. Will be wise to book longs and going short with strict s/l. Day's supports are lying @ 4870/75-4840-4805. Below that resumption of the downtrend is most likely.
Resistances: Same lies @ 4925-4960-4985. These are all positional target of nifty which is partially achieved. Closing of longs would be a better idea. But in case goes above 4985 and sustains, 5050-5080/85 is possible. Be light with your position and experienced trader can look at hedging opportunity because of special event like budget.
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