As per the houly charts nifty retraced 38.2&(fibonacci) from its recent high 4303.
And also stochastic looks highly oversold.And RSI is still in rising mode from the with a retracement upto 50%. So a possible upside rally may extend upto 4225. And on the downside Support comes near 4120-4090 range. And any closing below 4090 will strictly take us to 3800 levels