The way NIFTY moved all the way up after testing a few of the support levels and without looking back much, closing almost at day's high and significantly above the mid point of the previous bearish candle all indicate that some amount of momentum has been kicked in and NIFTY is likely to see higher levels.
Now that, the bears of yesterday have been completely trapped, NIFTY should slowly resume its journey towards 4750 levels.
Once the hurdle of 4630 is crossed, it becomes a cake walk.
Given this scenario, for NIFTY to resume its upward journey, it should not look back below 4487 levels from this point.
Resistance levels : 4585, 4630
Support levels : 4508, 4487
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