Bullish View:Nifty's immediate resistance comes at 4970 and tough to take out 5040 mark.If we manage to close above 5040 see nifty getting resisted at 5168 again.
Bearish View:Nifty's immediate support comes at 4870 and 4650-4700 range.For next month we may dont break below 4650-4700.
If we don't hold 4650-4700 then 4350 possible.
In this uptrend we have few levels which works like magic in panic.Those are 3919,4200,4350,4500-4550,4650-4700,4940,5040,5168,5300,5368.
Make a note of these levels.Its useful for Investors and traders.And many times 4940 acted as pivotal point This series watch out 4970.
Disclosure: No positions in nifty