Nifty 4838 Supp 4600 Ress 5200

We expect a slight bounce at the opening bell on the back of the overnight rally across Western markets and firm trend in Asian markets. Remember, we are certainly not out of the woods yet as the undertone remains quite subdued and investor confidence is at its lowest in recent years. How long this period (of consolidation/correction) is likely to last nobody can tell. So, it would be wise to just endure the pain for now and hope for the best.