Markets opened up strong, but as mentioned in my earlier blog that Nifty will face resistance at 4950 levels, slipped down to close below 4900 levels. RIL Ind which was one of the main dragger in the early hours of the trade, slipped down to the negative zone, before closing by 1.5%. PSU stocks were again on the move, resulting in NMDC locked in 20% upper circuit.

Markets after opening strong corrected and closed down with a marginal loss. Nifty took support at the 50DMA. Nifty closed below the 4900 levels. A Doji pattern have been made. Markets can continue to slide tomorrow also. Nifty will have support at 4800 levels.