BUY SRF 2100 CALL @ 40 TGT 55/70Tuesday market ended flat with nifty holding 10900 mark. markets turned cautious amid selling by domestic and foreign funds ahead of RBI's monetary policy review due on Thursday 7 Feb 2019. Market will remain range bound and volatile in the coming sessions. The balance Q3FY19 earnings season and the RBI’s Monetary Policy are the key factors which will provide near-term direction to the market.
Market would induce high volatility in the coming sessions and face stiff resistance at 10985 levels. All eyes are on RBI meet that is held on Thursday and expect some skepticism if the rates are hiked. Nifty has reached closer to the immediate and crucial hurdle of 11000, and a decisive breakout will trigger fresh surge ahead. We suggest maintaining cautious approach in the nifty, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk. The 10985 and 11055 levels may act as immediate resistance levels for Nifty, while supports may come in at 10850 and 10800 levels.
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Resistance: 10985, 11050
Support: 10850, 10800
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