The initial swiftness seen in the Nifty today was took away by the negative cues from European markets. This made Nifty close flat shedding all the morning gains. Weaker rupee index and Greece concern deteriorated the market gains. Nifty added only 12 points to its previous close and closed at 4870 mark.
Technically market is positive but the cues around may negate the positive view. if nifty manages to prevail 4950 level, we can expect Market to move up to 5000 level soon.
Below 4840, downfall is expected.
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