- Nifty (4743) trading in a sideways range
- Nifty should sustain above 4750 to turn trend positive for short term
- On the downside support exists between 4750-4665.If not then we might witness a correction below the levels
- On sustaining above 4750 can take Nifty to 4810 level.Close above 4810 gives further steam to continue upward momentum.
- Derivative data suggests support at 4500 and resistance at 5000
- IT index (6288) at key level,sustainability above 6300 makes long term trend positive.Infosys results due this week and break above 6300 indicates a bigger rally on Nifty too.Support Exists for IT index at 5900
- Bank nifty (8481) has significant support at 8300 ,below this level triggers correction again.Tough resistance at 9050 and support at 7950 and 7600
Best to your trading
