Nifty opens gap down and below 5000 levels finds some support around 4935 to close around these levels today at 4944. VWAP @ close is 4991, which indicates that below 4991 the bulls have exited for now.
1) Next support levels will be 4865-4800-4765 below 4935 spot prices.
2) Bias will be negative below 5000 now as this is the level that is important from a longer time frame for this month too.
3) Any intra day bounce can be expected above 5000 level only now with short covering tomorrow. Happy trading :)
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