NIFTY DAILY CHART

The Nifty ended the day 16 points, or 0.33%, lower at 4,749.65. On daily charts, it formed a small counter attack bear candle but the higher high and low compared to the previous session. It indicates bear turning active near the resistance levels (4,800 and 4,820). Intraday, the Nifty faced resistance near the 4,783 level. However, bears may give up if at least for a while if the Nifty sustains above Wednesday’s high of 4,783. It may extend the pullback rally up to 4,840 and 4,850 levels. On the other side, if it fails to hold above 4,725, it may test 4,685 and 4,662 levels.