Markets were hovering around the 20 DMA and the crucial level of 5050. Bears took control and pushed markets below 5000 levels yesterday.
Options data have started to indicate another range bounce move in Nifty with a bigger swing with a strong support at 4944 levels.
Any close above 5066 will start a fresh bullish trend in the coming days and a bearish move on a close below 4918 levels.
Resistance levels : 4986, 5018, 5066
Support levels : 4957, 4938, 4918
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