Is nifty heading to a close near 4800 levels for August expiry ?!
Yesterday markets saw a break down of 4900 levels and also closed below that. Throughout the series bears were able to pull back nifty from any small bounce and it is expected that bears will take control for the expiry also and push nifty for a close around 4804 levels today.
The important ceiling to watch out for today is 4927 level and it is not expected that the markets will go above that level in the initial half of trade, the hard ceiling being 4941.
Resistance levels : 4906, 4927, 4941
Support levels : 4872, 4845, 4796