Nifty: Resistance 5050/5084/5100-5110/5131
Support 5005-4994/4963/4931
Nifty opened & remained flattish through out the day in just 5040-5050 zone for maximum trading time, with low volumes, with no major moves seen on either side ahead of RBI meet today. Nifty may open flattish with 10-15 pts gap up & may remain range-bound till RBI meet. Nifty has immediate resistance @ 5050. On sustaining this level, Nifty may see some +ve sentiments rolling back in. On lower side, Nifty may remain comfortable with initial dip, till it is able to hold on 5005-4994 zone. Below this zone, Nifty may see some more selling pressure towards 4963 & lower zone. On upside, nifty may feel some selling pressure around 5050. If held, nifty may head towards 5100-5110 zone.
Trade with levels.
Happy Trading.
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