Nifty could not sustain above support turned resistance area of 4930-4950 and fell down to make a low of 4692 & closed at 4757. Nifty is in a short term down trend and hovering around important support area of 200 DMA around 4650. So markets could see extreme volatile conditions ahead as budget is also around the corner.

So investors who feel there is an opportunity on the valuations side could buy the stocks which are hovering around there support level of 200 DMA. Resistance for the Nifty is seen at 4950 & support at 4692-4650.

IBREALEST has a closed the gap till 157 formed on the day after election results. So one could buy the stock around 161, for a Target of 180, with stop loss at 154.90.