As per the expectations, yesterday Nifty recovered strongly in the second part and closed above 4,700 levels. Market trend for short term is positive and Nifty has strong support at 4,685 levels, if Nifty manages to sustain above the level of 4,685 will be positive for the markets. If Nifty cross 4,685 level, it will face resistance at 4,780 levels. On the lower side below 4,685 levels Nifty can face 4,640 and 4,590 levels.
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