Yesterday NIFTY got confined between the first resistance level of 4688 and the second support level of 4585 and became range bound.
Now it is clear that a one sided move is likely to happen if any of the above levels are broken and the probability of breaking on the up side remains high. The volumes were also low yesterday and should pick up today with the range breakout.
The key levels almost remain the same.
Resistance levels : 4688, 4746, 4794
Support levels : 4617, 4585, 4550
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