Return of Volatility ahead of Expiry.
Nifty Futures opened today flat @ 5020.It spent the day trying to capture 5050 levels, But InVain,The last hour in Nifty lead to heavy Sell Off making an Intraday Low of 4951, and managed to close @ 4966.Tommorrow is very Crucial Coz of the Fed decision and Expiry.
Nifty held our Minor support level @ 4940 mentioned yesterday. Now a Break of that level will quickly lead the markets to 4780 Area.On the Upside, it has to break above 5050 level to attack higher levels.
Our View on Nifty is Cautiously Bullish. A Close below 4940 will give away shost term Momentum,and lead way to 4780 levels. Only a close above 5050 will Re-start Fresh Upmove, targeting 5250 Area.
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