It was another day where bears took total control and pushed Nifty from the day's high to close almost near the day's low.
It looks like bears can further push Nifty to test 4900 levels as written yesterday and there might then be consolidation at that level also.
Yesterday again there was a strong bull trap seen at 5010 levels reiterating bears strength.
The PCR stands at the same level of 1.12 and that is the main reason why there could be more of a consolidation around 4900 levels and markets might not yet crack down.
Resistance levels : 5010, 5032, 5045
Support levels : 4945, 4931, 4916
Happy Trading
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