HITTING RESISTANCE

Caution at these levels required with only small caps & mid caps flying and profit booking taking in heavy weights..... trend is still up. We are now trading in narrow zone with nifty future trying to maintain its support around 4652 and hitting resistance at higher levels. Today's pivot is NF 4688 with support around 4660-4642 ..... further down in the zone 4619-4572 and resistance at 4724. This could be another flat day but will be difficult for bulls to hold.