Nifty: Resistance 5630/5657/5689/5733
Support 5612/5585/5555/5519
Market roared to new 7 month high after the Indian Government announced a hike in diesel prices and the US Federal Reserve announced a new asset purchase programme. Today, market may see another round of gap up opening with 50-60 pts, after Govt. of India cleared FDI in retail & aviation. The RBI is scheduled to undertake a mid-quarter review of the monetary policy today. Nifty has tough resistance @ 5630-5657 zone now. Immediate intraday support pegged @ 5612. Either side break will set further direction to market. Stock specific volatility will be seen. Traders are advised to avoid long trades at this point & wait for proper entry levels.
Happy Trading.
Trade With Levels.
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