On Saturday, during the short session, there was a short run up and the session was dominated by bulls.
Though there was a run up, the key resistance level of 4765 acted as a strong level, but the close is also very near to that level.
Any move beyond 4785, would trigger short squeeze to an extent to push Nifty to 4820 levels.
But the overall trend is still bearish and the final leg of the bearish move has not yet happened. This is due to happen any time this week and likely to test the bottom level of 4590. Any move below 4635 can be used to accumulate long positions for the short term.
Resistance levels : 4768, 4785, 4820
Support levels : 4741, 4718, 4685
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