Nifty Update for July 4 - Inder Bhatia

The Indian market closed in the red zone. The market saw a gap-down opening as weak global cues and high oil prices erased all of yesterday's gains. However, on the daily chart it has made inside-day bar, so anything below 3848 would be a weak sign, and this means Nifty will drift down. Crossing above 4107, more upside cannot be ruled out. For coming session, 3848-3735 would act as a support zone, while on the upside 3945-4040 would act as the resistance zone.