Nifty chart

Market broke the yesterday's high and close at the higher level making temporary bottom.Looking at the global cues expect our market to open gap.If sustains at the higher levels(Above 4830) then next target will be around the level of 4910-4920.

Breaking and close above 4910-4920 will reverse the short trend to upward and even making new
52 week high.Support remains at 4775-4780 levels breaking will take to 4730 and 4680 levels.

Nifty chart

Nifty chart

Nifty faces resistant at the level of 4775-4780 levels which is a upward trend line resistant.Trading above this level will take to 4825-4830 levels in intraday.

Support remains at the level of 4690-4680 levels trading below this will take to 4550-4600 levels.
But in today's trade we expect this level to hold.

Maximum downside is 4550-4600 and maximum upside is 4900-4950 levels as far as this week is concerned.

Nifty chart

Nifty chart

Nifty tested the resistant at 4940-4950 levels.Nifty is trying to fill the gap at the level of 4990-5000 levels. now if trades below 4885 then it will test the level of 4800 levels.Now if the level of 4800 is broken then we may see a panic selling in the market(That we dont expect in short term,since the day chart is in oversold).Expect flat market today.

Nifty chart