Bears engulfed the market and Nifty closed at 4944 a close below 5000 first time in this year .Today the first resistance for nifty is at 4983-87 level.Next resistance ranges are at 5024-28 level,5049-53 level,5089-93 level,5111-13 level,5139-43 level.On downside first support is at 4905-00 level.Next supports are at 4863-60 level,4802-97 level,4786-83 level,4740-37 level,4714-10 level.The nifty is now trading deep in the red so be very alert and do not attempt to do buy at low.Better wait for a reversal in trend to buy.SO today nifty expected to open gap down and more selling to follow below 4900 level and on upside till nifty is above 5025 stay away from long side.
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