The NIFTY has taken support near the indicated level of 4755 and has risen today (30-Oct) on the back of a 200 point jump in DOW JONES.... For the next few trading sessions consider 4730 as the support level and a break below this should now lead to a speedy fall towards sub 4450 levels .. The ADX indicatoris indicative of this.
Upmoves should now face resistance at 4865 and 4910 levels where aggressive traders can start building short positions ...
Expect increase in volatility in the coming week...
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.