Nifty: Resistance 5735/5757/5777/5804/5840
Support 5680/5656/5630/5615/5555
Nifty closed in red for 6th consecutive day with selling pressure witnessed at every bounce backs ahead of RBI policy. Banking & Auto sector were most hitten sector. For today, we may remain flat till RBI policy is out. Any +ve trigger may lead to some good decent bounce back in Nifty from its highly oversold condition. Crucial resistance @ 5757 zone... if sustains above it, Nifty may see some good bounce back. Closing below 5680, Nifty may see some weakness till 5615-5555 levels in coming days.
Safe traders should avoid leverage/risk trades in early trades ahead of RBI meet.
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