Nifty: Resistance 5089/5115/5151/5175/5200
Support 5050/5005-4990/4949/4936
Nifty after a initial flat/-ve trading, again witnessed good buying at lower support zone & went pass 5050+ mark with the help of IT sector, to close above crucial resistance zone ahead of RBI policy on Friday. Today, Nifty may open with gap up of 35-40 Pts in line with Global market. Immediate support now pegged @ 5050. If breaks & sustains below this zone, Nifty may see some profit booking coming in. On up side immediate intra resistance @ 5115, nifty sustaining abv this zone, can see some more upside moves towards 5135-5151 zone. Overall we may see some sluggish/volatile moves ahead of RBI meet in initial trading hours. Spiky moves not ruled out post RBI meet.
Trade with levels.
Happy Trading.
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