We might have a real surprise from around 4930. We should expect a strong pull back from here. This is if NIFTY does not sustain below 4930.
On the other hand, if NIFTY sustains below 4930, will see stronger crackdown.
The above are the chances we have got.
Now in which way markets have higher possibility? We have to go deeper. Let us look at the Hourly chart. Here we can see a 90% matured chart pattern which need only a confirmation by closing below the trend line shown by the White arrow (A). This confirmation point is the same as that mentioned above (4930). The breach of this level has a potential to take NIFTY to 4800.
With the above analysis, I will go with a severe crack tomorrow, with an opening from below the point "A".
In case NIFTY opens from above this point, we should expect a strong pull back.
In either way, we will have surprises…
