The previous market session on Tuesday closed on a extremely weak note after a gap down opening, after a negative opening markets turned witnessing constant selling pressure on global worries (Now Spanish Fear!!!!) which dragged the markets down to end deep into the reds breaking all the support levels.
CORRECTION GOING IN FULL SWING. BULLS SEARCHING FOR SUPPORTS. 4842 TAKEN OUT. NOW HOPES AT 4691 AND BEFORE THAT 4755. YESTERDAYS BULLS HOPES FOR 4842 AND 4888 WHICH NOW BECOMES RESISTANCES. TODAY, FURTHER CORRECTION IS UNLIKELY AND MAY SERIES WILL SETTLE ARROUND 4900-4950 WITH A LITTLE PULL BACK RALLY.
BEING EXPIRY DAY, NO RECOMMENDATION FOR TODAY.
Disclaimer:: I have some position in nifty. I may exit today itself. Traders//Investors are advised to trade as per their risk taking apetite.
