Nifty support and Resistance for 30 Aug 2011

Nifty zoomed to 4919.Is this trend reversal signal? .Today the first resistance for nifty is at 4930-35 level.Next resistance ranges are at 4967-73,5020-25,5052-54 level,5078-83 level,5111-14 level,5139-43 level.On downside first support is at 4904-00level.Next supports are at 4868-65,4851-49,4818-13,4794-90,4727-22,4692-89,4665-60,4595-90,4540-35 level.The trend was strong bull yesterday but still a strong close above 5000 is required to keep the trend live.So today the main hurdle will be at 4967-73 level.Next main hurdle is at 5020-25 level and if below 4865 be very alert.

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