Nifty support is in the range 4800 to 4820
- I am looking at support joining trend line with major lows formed by Nifty. and it indicated around 4800 to 4820
- Hourly chart has also developed positive divergence
- Europe situation is not very promising still US is recovering from it's low and in the making of opposite hammer which is short term reversal sign
- I believe, Nifty should give a bounce back. Creating long position between 4830 to 4850 is advisable
On Closing price basis, Nifty has already touch the trend-line at 4900
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