Finally Nifty closed above 5000. As mentioned that the Nifty has a good support at 4925-4900 and will bounce back from there. Yesterday Nifty made a low of 4913. In the chart we can clearly see that the Nifty took a good support at the RED trendline and 50 DMA. The 23.6% retracement level was nearby. IIP No.s were not that great, Inflation is a concern, Rupee is losing its strength. Technically markets are not looking bad.
Nifty support is at 4900 Nifty tgt is 5200.
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