On Friday crude prices fell down by $4. On the back of the fall in the crude prices, US market closed up around 2%+. On Monday morning all the asian markets rallied. Sensex closed above at 15503 and Nifty at 4529. IIP Data will be announced today. Market expectation are high.

Technically speaking, Nifty is trying to make a Higher top and the higher bottom formation. But it is facing stiff resistance at the 100 DMA and at 4625 levels. Few days back also it was mentioned about the same, and the Nifty dipped from 4615 levels to 4464. Nifty will find good support at 4440.