Nifty found support around 4620 levels and moved up, however tgt of 4550 is still wide open, and evrybdy should be very cautious about going long.
when markets fall so hard, and with all bad news around, buying wouldnt be a good idea.
breaking 6020 we will fall to 4550 levels, and if that is broken, huge downside is possible.
however i strongly feel that 4550 would be held, and one can try to go long around tht level with sl of 4545.
for today, nifty on the gap down can open arnd 4670 levels, below 4671, it will be weak, and intra buying advised only whn nifty is above 4671
if breaks 4660, i will go short with sl at 4685 for the tgt of 4620-4591 intraday.
