Nifty has failed to move above our crucial short term level of 4850. Failing to cross this crucial level indicates, Nifty could decline towards 4580 levels initially and then to 4400 levels before this month end.Positional Traders can initiate short positions around 4800 with a stop at 4850 for an initial target of 4580. On contrary, if Nifty moves above 4850, then it could move towards 4950 in coming trading sessions.
