Nifty: Resistance 5075/5115/5151/5175/5210
Support 5050/5005/4990/4949
Nifty witnessed alot of zig-zag moves between +ve & -ve zone on Monday & finally ending almost 1% down. Today, Nifty may open gap up with 40-50 Pts in line with Asian market. Above 5075, nifty may start to move towards 5115 zone. Sustaining this zone, Nifty may rally again further towards resistance zone of 5151. Nifty has to cross 5175 zone for a further rally. Lower side support pegged @ 5075 & below this range @ 5050. Breaching of this zone, Nifty tends to get weaker for 5005-4990 zone. Over all Nifty is stuck in range of 5050-5150 from past few session. We expect Nifty to get further direction post RBI meet. Nifty needs break of 5175 on upside or 4990 on downside to show some further moves.
Trade with levels.
Happy Trading.
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