20 SMA-4910
FALLING TRENDLINE-4920
RISING WEDGE
RESISTANCE
50 SMA-5097
200 SMA-5065
FALLING WEDGE
Bulls gave a very strong reply to bears,bears were running for cover whole day.Nifty managed to close above 20 SMA @ 4910.This will provide very strong support for Nifty.As long as Nifty is above 20 SMA,every dip is buying opportunity with SL of 4900(spot level).Nifty is on the verge of breaking a double bottom @ 5021.If Nifty closes above 5021,target for this pattern is minimum 5257.
Nifty has resistance of 200 SMA AND 50 SMA,closing above 50 SMA,Bulls will rule the market.
