Following lines were told in Pre-open Outlook today:-
4860 will be watched first today and slipping below it will mean more down moves and sustaining above 4912 will mean survival of crucial support within which Nifty closed yesterday.
Although Nifty slipped below 4860 but firstly hovered around 4860 after forming low at 4848. Indian markets are out performing Global markets and first 30 minutes intra day patterns are showing consolidation indications also.
Next moves confirmations will be sustaining beyond 4848-4912.