Nifty continues to be in an intermediate downtrend:
``Nifty continues to be in an intermediate downtrend. There is significant resistance at 4,850. The support is at 4,650 level,`` said Avinash Gupta, assistant vice president Research Equity, Bonanza Portfolio while commenting on the market outlook for tomorrow.
``As expected, Nifty came down in the later part of the day as it was in the overbought region and as we are moving into a long weekend, we may not see huge buying tomorrow. For Nifty the major support is there at 5,185 levels,`` said Alex Mathews, Research head, Geojit BNP Paribas, Financial Services, while commenting on the outlook.