Nifty for the day made a low of 4864 from there it made a 100 points move to make a high of 4965 and made closing near by the high at 4948 which is 50 points up from the previous close.
As there is a long lower shadow this shows the pullback move is still in momentum.
Now the resistance comes at 4977 and 5014 the support comes at 4932 and 4894.
Nifty breaking of 4977 can take it upto 5077. a closing above 4977 will add some more strength to the market.If its not able to cross 4977 then again the market will go to bear hand.
Buy Bhel in between 1740-1750 with stop loss of 1730 for the target of 1790.
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