Nifty closes the week at 4866 with gain of 35 points after being resisted just below 4900 level of spot prices. VWAP @ close is 4877.
1) The trading range now goes a bit higher to 4835 support on downside and resistance of 4900 on the upside. Above 4900, Nifty will be good enough to test 4935-4980-5025 levels.
2) Below 4835, support exists at 4800 and 4735 now.
3) The volatility index has cooled off a bit and Nifty seems to be steadily and slowly climbing resistances slowly. Today's close is the fourth consecutive close above 4800 this week. Have a great weekend! Happy trading !!!
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