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Watch Nifty
Ø Nifty continues to consolidate in a very narrow range making an intraday high/low of 4758.70/4695.45 to close at 4742.80.
Ø On the daily chart the near term consolidating trend depicts a range of 4680 to 4790 with a negative bias. In the short term, the present trading band is expected to stay good unless breakout on either side takes place. Only if nifty sustain above the resistance levels of 4840 on the upside short term buying can be expected. Above 4840 levels of 4875/4910 can be seen. On the downside, if nifty breached the support level of 4680/4670, levels of 4645/4610 can be expected.
Have strict stop losses
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