NIFTY LEVELS & FREE NIFTY FUTURE TIPS FOR 5 OCT 2018

Market was like sea of red on Thursday . The  markets logged it's biggest drop & hit 3 month low. The markets took a major hit as both the key indices amid a selloff witnessed across sectors and weak global cues. The Sensex tanked as much as 858 points to touch 35116 - a level last seen on July 2. The Nifty plummeted 267 points to hit an intraday low of 10591 - its lowest since July 9. The rupee hit another record low, amid weak global cues, boiling crude prices and fears of a widening current account deficit. Concerns over the Reserve Bank of India (RBI) adopting an aggressive stance in its monetary policy statement due to a rise in inflationary pressure led to erosion in investors' risk-taking appetite. Caution prevailed in the markets ahead of RBI's statement due on Friday. We are expecting that the central bank to hike the repo rate by 0.25%.
All eyes are on RBI meet that is held on Friday and expect some skepticism if the rates are hiked. Nifty has reached closer to the immediate and crucial hurdle of 10500, and a decisive breakout will trigger fresh surge ahead. We suggest maintaining cautious approach in the nifty future, considering the mixed sentiment. Traders should focus more on the money management aspects and avoid taking unnecessary risk. The 10800 and 10850 levels may act as immediate resistance levels for Nifty, while supports may come in at 10550 and 10500 levels.

More about intraday tips on Google +

Resistance: 10800, 10850

Support: 10550, 10500