Nifty reversed from the well discussed zone of 4760-4730 by hitting a low of 4757 on the last session. Nifty still in a downtrend, but a correction against a 550 points fall can also lead towards a healthy upmove.
Supports: Supports for the day lies @ 4865 & 4845, reversal from 4757 is having pivot on those place. Intra bulls will try to hold that. A confirmed break below 4820 will bring more weakness though and it may head towards 4760-4730 again.
Resistances: 4896/4900 is immediate. 4938 will be pivotal for the day for an immediate breakout towards 4975/80-5010/15.
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