While commenting on Nifty outlook, Nifty has next support at 4,880 levels. On the upside, 5,140-5,260 can act as near term resistance. Any positive outcome from Europe will trigger fresh buying in the stocks. As well as a correction in USDINR rates could also result in equity markets going higher. On the otherhand, if none of this happens, we could see Nifty entering into deeper correction.
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