Volatile trading session has ended on
bullish note. After hitting low of 10814 Bulls managed to crossed 10900 hurdle
& close at 10912. Positive Asian cues and the upside in Reliance Industries
& HDFC group stocks helped the nifty close in the green. now traders are
waiting for the announcement of Reserve Bank of India monetary
policy decision which is scheduled before noon on Thursday 7 Feb 2019. The Monetary Policy Committee (MPC) will meet during
February 5 to 7, 2019, for the Sixth Bi-monthly Monetary Policy Statement for
2018-19.
nifty remain volatile throughout this week. On such a breakout above 10985 levels a target of 11550 can be expected. However, breach of 10814 on closing basis shall resume the downtrend towards lower end of the consolidation range placed between 10750–10650 kind of levels.
DAILY RESISTANCE FOR NIFTY: 10950,11000,11100
nifty remain volatile throughout this week. On such a breakout above 10985 levels a target of 11550 can be expected. However, breach of 10814 on closing basis shall resume the downtrend towards lower end of the consolidation range placed between 10750–10650 kind of levels.
DAILY RESISTANCE FOR NIFTY: 10950,11000,11100
PIVOT POINT:10800
DAILY SUPPORT FOR NIFTY : 10750,10700,10600
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