Crucial support for the Nifty is at 4950-4915: Gaba

Last Updated: Thu, May 10, 2012 04:30 hrs

Nifty (5000) we said ‘technically there is no sign of strength seen on the charts as yet and our lower target of 4915 could be a reality as well’ the market unfolded weak as expected and traded in the lower regions... technically no sign of strength is seen as yet but bar generated for the day could give a technical bounce to around 5060-5100 zones.

The crucial support for the Nifty is at 4950-4915 and the resistance is at 5080-5100

Prakash Gaba is a professional technical analyst and a trader based in Mumbai and runs his own consultancy.

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