On Monday the market opened higher but closed to nearing day's low, which was exactly opposite of the Thursday's
activity. However, the market has managed to sustain and close above 4770/80 levels, which was the minimal
requirement to continue the current pull back move for the market.
Today, in case the market trades below 4780 levels then the market may gradually fall to 4755 levels. But in case the
market sustains below the levels 4780 in the second half of the trading session then it may even fall to minimum 4710
levels in the near term.
On the higher side, the market has immediate resistance at 4810. If it sustains above the same then the market may
again try to recapture 4840/4845 levels. The market will remain positive if it sustains above 4845 in the second half of
the trading session.
Nifty Strategy: Sell short below 4775 with a final stop loss at 4810 and the target should be 4755 and 4710. On the
other side, if the market opens higher, then the strategy should be to buy above 4810 with an upside target 4845 and
4885. Keep a final stop loss at 4775.
