Nifty: Resistance 5115/5151/5175/5210
Support 5075/5050/5005/4990/4949
Nifty opened +ve inline with Asian market, but again failed to cross & sustain 5151 zone to keep Bull's hope alive. Nifty witnessed selling pressure again from that zone & closed below 5100 mark. Today nifty may open marginal +ve gains of 15-20 pts & may trade in range of 5080-5130 ahead of RBI meet. We may see some volatile moves post RBI meet, & Nifty may move according to announcements. Also being October month expiry, we may see some stock specific moves. On lower side, Nifty has good intraday support @ 5075, below this 5050 is possible. Breaking further of this zone, Nifty may move towards 5005-4990 zone. On upside, 5151-5175 zone remains resistance zone for further breakout rally.
Trade with levels.
Happy Trading.
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