Yesterday's close broke the range on the downside and has also significantly closed below the 50 DMA. Though this indicates strong bearishness, it is not yet time for a downtrend to begin.
The view is maintained that NIFTY might also show a strong bounce after testing 4000 levels in the next one or two sessions.
It will remain volatile as long as 4000 level is not breached.
Resistance levels : 4117, 4140, 4156
Support levels : 4045, 3998
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