Nifty: Resistance 5585/5630/5655-5666/5697/5713
Support 5555/5525/5495/5455
As written yesterday, Nifty had an silent start to the day till RBI meet. Post meet, Nifty plunged 100 pts, as RBI shock investors & industry by raising interest rates double the expected. Today, Nifty may open flat/+ve. Immediate trend decider support pegged @ 5555. If sustains blw this level, Nifty tends to get more weak for dip towards 5525-5500 zone. On flip side, crossing & sustaining above 5585, may show signs of bounce back. Sustaining this zone, nifty may see some covering towards 5615-5630+ zone. With RBI raising rates, over all outlook is sluggish for coming days with some range bound sessions & stock specific moves.
Trade with levels.
Happy Trading.
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