At last Nifty has come out of its range but remains in its neutral zone. As per technical indicators, Nifty weekly chart is still showing its bullishness despite of breaking the trend line. Since 4900 is the strong support zone for the Nifty, therefore we may expect a great recovery around 4900. It may be 4910-4920. Closing below 4880 may lead the Nifty towards 4700 and next 4500. Actually 4986 is the first weekly support of Nifty. Second weekly support comes around 4910.
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