NIFTY LEVELS - INTRADAY TREND FOR THE DAY - JANUARY 6, FRIDAY

Nifty was on a doji yesterday and closed at 4749. So today the first resistance for nifty is at 4765-68 level. Next resistance ranges are at 4781-85,4800-04,4820-23,4842-46,4871-75,4908-13,4960-65,4987-92,5030-35,5055-60,5084- 87,5098-02 levels. On downside first support is at 4734-31 level. Next supports are at 4724-20,4702-98,4670-65,4650-45,4623-20,4602-97.4580-75,4543-40,4527-25,4485-82,4455-50,4435-30,4400-395,4373-70 level.On upside the main hurdle region for nifty is 4840-50 and a strong close above this level is the only solace for bulls and on down side a close below 4700 can inject back the strong bear sentiment.So today for intraday we expect the range between 4800 and 4700 is crucial and unless a move above 4800 we did not advice to go with long side.