Volatility increases, Nifty keeps falling and closes at 4835 after visiting low of 4758 level. VWAP @ close is 4820.
1) Nifty is getting weaker and is now headed downwards towards 4250 levels sooner than later. Reversal level will now remain 4935 with a close above 5035.
2) Below 4860, level of 4760 already visited and now intra day support could emerge around 4690-4650 levels. Always some intra day bounce can be expected from the support levels as it is also expiry week and Nifty could suprise everyone with an expiry above 5000 levels too. Reversal point is 4935 to catch this surprise dead cat bounce move if it happens.
3) Important levels of Nifty is given over the next 8-10 trading sessions. I will be back after Dusherra vacation on October 7th. Till then, Happy trading and wish you all a very happy Dusherra :) Trade safely :)
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