The Nifty is in a bullish mode as it demonstrated a breakout last week. If the 5080 level is conquered conclusively with good volumes, the breakout will be confirmed. Otherwise, it will consolidate. The immediate support should be 4975 and 4920. Below 4830 level, stop loss of the bulls is liable to get triggered. However, the Nifty may turn volatile due to settlement of F & O and also holiday on Thursday.
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