Its very good start for the Indian Stock Market this week. Both benchmark indices (Nifty and Sensex) traded well and closed with significant gains of 1.47% and 1.38% respectively. In coming trading sessions Nifty has immediate resistance at 4,800-4,850 level and profit booking may be seen from these levels. On downside, Nifty has important support at 4,750-4,730 level.
If Nifty manages to trade above 4,780 levels, then rally to 4,825-4,850-4,900 may be seen. On the other side if Nifty does not show strength above 4,780 levels then selling pressure till 4,750-4,730-4,700 may also be seen.
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