Pre-Market View:
In view of RBI policy tomorrow, not much should be expected from mkts today.
If 5682 is breached on the upside then day's range may be 5660-5720
Otherwise we may remain in 5675-5615 range.
In view of breach of 5681 and 5658 on Friday, my inclination is towards the lower range.
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EOD Post:
While Nifty scaled above yesterday's high,it failed to breach yesterday's low in the subsequent downmove.And is currently resting on channel-line.
A gap-down below 5641 would keep bears hopes alive otherwise RBI policy action may give a spurt up from the support line and take us above 5815 alongwith negative divergence in Daily Chart(which has been missing so far).
.png)
In view of RBI policy tomorrow, not much should be expected from mkts today.
If 5682 is breached on the upside then day's range may be 5660-5720
Otherwise we may remain in 5675-5615 range.
In view of breach of 5681 and 5658 on Friday, my inclination is towards the lower range.
.png)
While Nifty scaled above yesterday's high,it failed to breach yesterday's low in the subsequent downmove.And is currently resting on channel-line.
A gap-down below 5641 would keep bears hopes alive otherwise RBI policy action may give a spurt up from the support line and take us above 5815 alongwith negative divergence in Daily Chart(which has been missing so far).
.png)
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