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NEW DELHI: Nifty traded with cuts on Monday as the headline index closed below the crucial 15,000 levels and formed a bearish Hammer-like pattern with a long lower shadow. Rohit Singre, Senior Technical Analyst at LKP Securities said, Going forward, 14,750 will act as an immediate and strong support. If it manages to hold that, then some more pullback is possible towards immediate hurdle zone of 15,000-mark followed by 15,100 zone. As of now, there are no signs to the end of this corrective phase. Hence, we could continue to see such volatility in the near term. Traders are advised to avoid getting carried away and rather look for stock-specific opportunities on both sides. As far as levels are concerned, the immediate support for the Nifty is placed around 14,700, while resistance is seen around 15,050,” said Ruchit Jain, Senior Analyst - Technical and Derivatives at Angel Broking.

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