NIFTY TODAY
Market conditions turned into favor of
bears. It’s a negative close for the market for second consecutive session as
investors reacted to the stance on interest rates by the Reserve Bank of India.
The Monetary Policy Committee kept interest rates unchanged, but sharply cut
the inflation targets for October-March. However the Sensex had cracked
over 300 points, while the Nifty tested 10750 mark.
NIFTY TOMORROW
We reiterate our
bullish view on markets and suggest keeping “buy on dips” approach in Nifty
future till it holds above 10750. Nifty future has already surged yet
to a new high now with daily trends also turning positive. The support for the Thursday
is seen at 10735/10700 while resistance is seen at 10875/10925.
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Resistance: 10875, 10925
Support: 10735,10700
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