Nifty is purely in indecisive mode, and clearly showing with the candlestick patterns. Long topping and bottoming candlestick tails on above hourly charts assert lack of direction.
As Nifty is still moving in horizontal channel. There is no drastic Changes in supports and resistances. On the higher side 4120/40 is still resistance, above which 4160 and then 4190 levels.
On the lower side, one important thing happened was test on the demand, which was successful. 4035 must be broken to confirm the down trend, below which 4000 is a numerical support.
On daily chart above, Nifty formed a Candlestick Doji, which is again indicating the indecisiveness.
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