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Nifty: RBI Policy tomorrow... Whats in for you

NSE:NIFTY   Nifty 50 Index
Nifty            
Closing price 10498

Observations

- Nifty             has seen a sharp sell - off since Budget day

Do read our Budget day Post

https://in.tradingview.com/chart/NIFTY/NTnfO4Vc-Nifty-Budget-and-PE-Ratio-What-s-in-for-you/



- After a big gap down opening today, the Markets recovered substantially to close well off the lows

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- With RBI Policy tomorrow will there be any positive surprises...???

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Looking at charts...


There is series of resistance on the upside
10594 - 10665 - 10760 - 10820

- Any move on the upside needs to be watched carefully... there could be more selling pressure coming in the days ahead...

- We are still not out of the woods... SGX             Nifty             as I write is -76 points

- However On the lower side, further weakness will creep in only if we see Nifty             closing below today's low of 10276.

- In that case, Doors will open up for Nifty             to fall up to 10066 / 9820 / 9685 levels


There you go...

Important levels have been mentioned...


Plan your trade accordingly


Ideally would like to see Nifty             giving a bounce back and would consider selling on rise if price action indicates rejection at higher levels

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Do like and share with your friends & colleagues if you find the analysis helpful...

Sharing is caring...!!!


Take care & safe trading...!!!
Comment: Nifty opened at 10604 and In 1st 5 mins itself came below 10594 and started drifting lower indicating rejection at resistance level. What followed was a further drop of 130 points making an intra day swing low of 10464 so far

Intra day traders can look to book profits

The idea is still the same sell on rise & or if Nifty closing is below 10276

Hope the levels were helpful in planning your trade...!!!

Take care & happy trading...!!!
Very good analysis...
Reply
sorry sir but i want to asking for SUZLON ....WHAT TO DO SALES/HOLD FOR 1 TO 3 MONTH PLEASE REPLAY ME
Reply
@naresh1278, hi naresh


Suzlon has support at 12.6. Below that 11.5 / 9.8-9.3 zone

From longer term perspective, Suzlon will be strongly bullish once it surpasses above 18.5


snapshot



How ever in the short term, it is difficult to suggest what will happen in 1-3 month time frame, especially when overall markets could be in for difficult times...

Have mentioned short term resistance and support levels for Suzlon

Look to book profits if stock comes at resistance levels


Buy on dips if your time horizon is longer

Hope it helps...
Reply
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