Nifty witnessed range bound movement today. It is now having the trading range of 4850 to 4950. Both levels are very crucial. Technically still nifty is looking week & could face the profit booking also at higher levels. In nifty we could see that it is not looking to hold the rally for while, which means that still there is less interest in buying than selling. We recommend sell on nifty around the level of 4940 for the target of 4820 with the SL of 4990.
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