Thursday, February 7, 2019

NIFTY PREDICTION & FREE OPTION TIPS FOR 08 FEB 2019

NIFTY TODAY
The market snapped its five-day winning streak while the Nifty was little changed despite the Reserve Bank of India surprising the street with a rate cut and changing policy stance to "neutral" under Governor Shaktikanta Das's first monetary policy review. The Sensex fell 4 points to settle at 36971 and the Nifty rose 7 points to close at 11069. The Reserve Bank of India cut the repo rate by 0.25 per cent to 6.25 per cent on expectation of inflation staying within its target range. The central bank also changed its monetary policy stance to ‘neutral’ from the earlier ‘calibrated tightening’, signaling a further softening of rates if inflation remains benign.
NIFTY TOMORROW
For tomorrow nifty now tests key resistance at 11125. A strong rally beyond this level and the next key resistance at 11150 will strengthen the bullish momentum. In that case, the contract can rally to the 11750 and 11200 band. But the inability to move beyond 11000 will keep the index under selling pressure. A decisive fall below 11050 can pull the contract down to 11025 and then to 11000 levels. The next key supports are at 10950 and 10900 levels.
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Resistance: 11150, 11200
Support: 11050, 11000


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