Intraday View For 18/04/12

Nifty: Resistance 5333/5355/5385/5420

           Support 5315/5275/5250/5222

Nifty hit intraday high in late trade after the RBI cut interest rates for the first time in 3 years by a 50 BPS . Markets were subdued in the morning trade. However, the sentiment was boosted after the RBI announcement. Today, nifty may open gap up with 25-30 pts. Nifty, now has immediate resistance @ 5333. Sustaining it, Nifty may move towards 5355-5385 zone. On lower side, Nifty now has good immediate support @ 5275. Below it, Nifty gets weak for dip towards 5250-5222 zone.

Trade with levels.
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