On 25th Jan Nifty closed below 5034 level which was an important level and a major hurdle.
It was an indication of weakness and finally Nifty settled at 5007 down 28 points from previous close.
If Nifty trade below 4945 level with volume and fails to catch up after opening weak it may test lower levelsof even 4800 as well.
BankNifty has strong support at 8605 level and if it is broken then BankNifty must test loewr level of 8510 as well.
BankNifty must close above 8605 level in order to stay strong otherwise we may see more weakness in coming days.
Pivot 5004
Support 4945-4913-4886
Resistance 5014-5039-5056
BankNifty Pivot 8685
Support 8605-8570-8510
Resistance 8715-8760-8803
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