29 January 2013


Buy Nifty future above 6061 tg  6089,6105,6125 sl 6035
After 9 months, RBI has finally announced a Repo cut which could be the beginning of further cuts this year. On the basis of current assessment and in line with the policy stance outlined in Section III, the Reserve Bank announces the following policy measures:RBI cuts REPO rate and CRR by both 0.25%. Market expected this and same has come just CRR is some surprise but that is not to big one. The Nifty closed at 6049.90, down 24.90 points after touching a high of 6,111.80 intra-day....
The index managed to close at the same level and it oscillated within a narrow range. Tomorrow the key levels to watch out for initially are located between 6065 and 6050—if the index were to fall below this range on good volume based selling expect the index to move further down. Next worthwhile support below the level of 6050 would be at 6035. Once this level is taken out we can expect a test of 6020 and 6010 range. However, panic like situation will come to pass if the level of 5987 also gets pierced.
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RESISTANCE:6060 6080, 6100
SUPPORT      :6030, 6000, 5980

1 comment:

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