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Today, the markets opened on a positive note and expected to carry previous session's gains. Yesterday, Sensex closed around 15,938, up by 420 points and Nifty around 4764, up by 127 points from previous close. Nifty made a good come back but it is still in bear side. Nifty is expected to trade in the range of 4,729-4,847. For today, Nifty has resistance at 4800-05 levels, on the downside it has support at 4726-23 levels. Today, Bank Nifty is expected to trade in the range of 8,234-8,464 level. Support for today is at 8,177 and resistance is around 8,615-8,688 level.
Traders are advised to trade long in Nifty only above 4,795 levels for targets 4,818 and 4,845 levels with strict stop loss at 4,778 levels.
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