It was fantastic start in Indian Stock markets today. Both benchmark indices (Nifty & Sensex) closed with strong gain of 3%. Nifty witnessed good recovery from support near 4,700 levels and recovered a lot.
For Nifty tomorrow, upward trend may continue till 5000 level. On the upside, Nifty may face immediate resistance near 4,900 levels. On downside, Nifty has good support at 4,780 levels. For intraday trading, trend deciding level is at 4,850. If Nifty shows strength above 4,850 levels, then rally to 4,900-4,950-5,000 may be seen. If Nifty does not show strength above 4,850 levels then selling pressure till 4,810-4,780-4,750 may also be seen.
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