Nifty: Resistance 5090-5100/5131/5167/5191
Support 5050/5030/5005-4990/4963
Nifty opened with gap up, in line with Asian Market. Markets plunged during the afternoon trade after the RBI at its policy review leaves key rates unchanged. The market was disappointed and heavy selling pressure was seen after the announcement. Today, Nifty may open flat/-ve with 10-15 pts loss. Immediate intraday support @ 5050-5030 zone. If sustains, Nifty may show some covering towards 5100 zone. On upside, Nifty has resistance 5090-5100. Sustaining above it, it will face resistance @ 5121-5132. Overall, as said before, expect a rangebound market in a broader range of 4900-5200.
Trade with levels.
Happy Trading.
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