Nifty intraday support seen at 4215: Nirmal Bang

MUMBAI: Nirmal Bang is of the opinion that technicals suggests markets are under pressure. It sees Nifty taking support at 4215 during the day.

���Once again markets have closed at a very crucial point from where we could witness huge volatility. Markets have witnessed a smart pullback from their lows but the volumes were not so encouraging. The outlook for the coming week is cautious has markets are still trading below their important support level of 4360 & 4530 and very importantly Nifty is far below its short-term 5-day moving average of 4385 and 21-day moving average of 4435, which clearly suggests that markets are under pressure.

Intraday support for Nifty is at 4215 and strong resistance is at 4360. A strong move with huge volumes on either side will give fresh direction to the market. Unless we see a break above 4430 fresh buying should be avoided,��� said Nirmal Bang report.