Nifty made a high of 5065 low of 4989 and closed at 5030 which is 38 points down from previous close.
Nifty made a roller coaster ride in last one hour the way it bounced shows panic buying .
If for today also if the up move continues it can go to 5120 , 5160 and further. Or else if its not able to with hold 5000 level again we can see 4700 level.
50 DMA is 5060 Today's closing is below this level if it sustains below this for two more days then the downside is open.
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