Nifty turned down almost from the give intraday resistance 535 (high made 5022) after successfully retesting the 4970 zone and moving up 50 odd points. 4970/75 is playing pivotal and it will continue to do so in coming sessions.
Supports: Larger trend is down beyond any question and higher levels are getting sold off. For the day it's having a support near 4890. Breaking below that it will target 4840 again. Violation of that it will face bigger support 4775-4740.
Resistances: 4970/75 is key. Above that 4995-5030-5060/65 are possible.
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