Yesterday was a decisive day. Bears did conquer 4636 levels but were unable to break the 4606 barrier and then bulls took complete charge and pushed Nifty to further highs.
It was a highly volatile day and by forming a powerful bear trap around 4660 levels, bulls completely took control.
For the bulls, 4850 is a very strong resistance level and it is likely that markets will consolidate a while between 4660 and 4850 levels also before making the next major move.
Resistance levels : 4787, 4826, 4854
Support levels : 4734, 4720, 4660
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