From the last 3 trading sessions, Nifty was trading well and witnessed handsome recovery from the low of 4531. However, heavy intraday volatility has continued to play spoilsport for the position holders. The short term trend has turned slightly bullish however cautious approach is recommended since volatility is expected to remain high during the current weak as December Derivative series comes to an end on Dec.29. Above 4,750, next resistance on upside is placed at 4,820-4,840 level. Downside support exist at 4,660-4,670.
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