Support for the Nifty at 4850: Technical Analyst, Prakash Gaba

Technical Analyst, Prakash Gaba, Nifty, Nifty Future, Nifty Resistance Level, Nifty short term Target, Nifty tareget
Nifty (4953): We said ‘The market still looks weak and can come down to around 4850 levels’. Interestingly our support on the Nifty of 4950 and on Sensex of 16600 has been achieved. So far the market does not display any strength. But the market can bounce back as the market is stretched on the downside.

The crucial support on the downside for the Nifty is 4850 and resistance at 5000.