The NIFTY opened the session on a tentative note and registered an intraday high of 4869 levels.
However the selling returned at the higher levels which plunged the index to an intraday low of 4728.
The NIFTY finally closed at 4772 with a loss of 77 points. The index continued its downward movement once it sustained below its 4825-4800 levels and has now tested its recent low level of 4720 levels.
Sustenance below the 4720 level could start a fresh round of decline which would accentuate the index towards the level of 4675 /4600 levels.
Any pullback from the current level is likely to face stiff resistances at the levels of 4825 /4880 /4910 levels.
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