Expect Volatility in 4915-5320 Zone

Nifty September future opened at 5126 levels and after making an initial low at 5088.35 levels, it showed good recovery and made a high at 5174. It closed in the black at 5155 levels with a 37.8-point gain and an increase in open interest. Clearly, a long build-up was seen in the Nifty September future on Thursday. It closed with a 1.75-point premium. Nifty F&O data indicates that long positions were made in Nifty on Thursday. Technically, Nifty also has resistance at 5220-5320 zone and support in 4915 zone. Decisive price action may be seen, if Nifty maintains above 5320 levels or below 4915 levels. In the 4915-5320 zone, volatility may be seen for some days. Then yesterday in Bank Nifty ,Hanging man pattern has formed in Daily chart at the resistance level 9900 ,So avoid long position. Trade with cautious