Nifty would open in red at least 1.5-2% following negative cues from US and Asia.
Nifty support is around 4850-4830 levels and resistance at 5001-5025 levels.It would hovers around 4850-to 4896 levels till afternoon session ,European market will decide the trend later on .Closing above 4915 may be expected.Trends remains bearish as 200 DMA support has been tested and market is trading below the range.
Stock specific action could be seen in M&M and can be accumulated at 505 levels for the target of 540 with a stop of 499.
