Gap down opening and weak global cues and the currency market depreciating, nothing was positive for Nifty and kept sliding to close near the lows of the day at 4778. VWAP @ close is 4826.
1) Below 4830 on closing basis, Nifty will continue to be weak and now the final support level will be the low of the year 4720.
2) Below 4720, the next support levels will be 4690-4530-4590.
3) Three more days to go for November series expiry and a relief rally is probable only above 4830 on short covering. Happy trading :)
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