The daily chart on NIFTY indicates market has immediate resistance at 4980 and 5020 levels. Any move above 5020 and then 5055 is possible. On the lower side, the support will be at 4790/4740 levels. If NIFTY moves below 4740, it could test at 4710 levels.

Equity: Nifty: Trade cautiously, volatility may remain high
Nifty view: Buy on dips with stop loss of 4700
Buy NIFTY near 4900 SL 4875 T 4990 & 5040 Buy RCOM SL 73 T 78 & 80 Sell HEXAWARE SL 85 T 79 & 76.

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