Yesterday markets saw a break down of 4900 levels and also closed below that. Throughout the series bears were able to pull back nifty from any small bounce and it is expected that bears will take control for the expiry also and push nifty for a close around 4804 levels today.
The important ceiling to watch out for today is 4927 level and it is not expected that the markets will go above that level in the initial half of trade, the hard ceiling being 4941.
Resistance levels : 4906, 4927, 4941
Support levels : 4872, 4845, 4796
2 comments:
The bearish move came as expected and nifty was not able to cross 4927 levels in the day's trade. However the expected intensity of breaking 4800 levels and a close very near to 4800 did not happen and nifty managed to close around 4839 levels itself.
Good trade in 4900 puts and the expiry trade of 4800 became worthless.
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