Nifty: Resistance 5115/5151/5175/5210
Support 5050/5005-4990/4949/4932
Nifty opened +ve & added on to gains in initial trading hour ahead of RBI meet. Post RBI meet, after 25 BPS rate hike, Nifty witnessed some spiky moves & wiped off all gains, though regained in last hour to close almost flat with marginal gains. Today, nifty may open -ve in line with Asian market with 10-15 pts. Immediately sustaining below 5070, nifty may see some dip towards 5050 zone. Further break of 5050, may lead to more selling pressure to test towards 5005-4990 & lower support zones. Resistance pegged @ 5115, if sustains above this zone, some short covering may set in towards 5135-5151 zone. Till close above 5175, nifty is expected to remain in 4950-5150 zone.
Trade with levels.
Happy Trading.
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