The markets have been absolutely range bound for the past few days moving in a very narrow band.
Nifty has lost its momentum and faced stiff resistance at 5600 levels. A handful of events are lined up ahead including the fuel price hike, iip data and the RBI policy review later in the month. Breakout from this narrow trading range will give a good move either side.
A fall towards 5400 levels can be utilised for buying and a rally towards 5650 can be used for part booking.
Markets may oscillate in the broader range of 5650 to 5350 and consolidate for some time before taking the upward trajectory towards 5900+ provided it holds the level of 5170.
Conservative Traders sit tight and hold your longs.
Levels to be watched tomm : 5500, 5477 on downside and 5550 on upside.
Nifty has lost its momentum and faced stiff resistance at 5600 levels. A handful of events are lined up ahead including the fuel price hike, iip data and the RBI policy review later in the month. Breakout from this narrow trading range will give a good move either side.
A fall towards 5400 levels can be utilised for buying and a rally towards 5650 can be used for part booking.
Markets may oscillate in the broader range of 5650 to 5350 and consolidate for some time before taking the upward trajectory towards 5900+ provided it holds the level of 5170.
Conservative Traders sit tight and hold your longs.
Levels to be watched tomm : 5500, 5477 on downside and 5550 on upside.
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