Markets ended sharply lower on unexpected RBI raised repo rate by 25 bps and settled on a lower note taking support near their crucial support levels. Nifty future plunged after RBI Policy announcement and tested strong support around 5950 while showed a pull back in the later half and closed above 6000 indicating strength in it. Now, it needs to maintain above 6100 to continue bulls while 5950 is seen as major support sustaining below which will result in some correction.
SUPPORT : 5960 & 5900
RESISTANCE: 6100 & 6155
Daily Market Trend
- Rate hike spoils mood at Dalal Street; Sensex falls 383 points.
- European shares steady near 5-year high, Adidas hit.
- RBI ups repo rate by 25 bps on inflation concern, MSF cut.
- Sterlite Tech arm bags projects worth Rs 6.50 bn.
- CCEA approves Rs 182.43 cr grant to HEC.
Intraday Stock Tips
BPCL EQ BUY ABOVE 205 TARGETS 207/209/211 SL 203
ZEEL EQ SELL BELOW 220 TARGETS 217.90/215.70/213.50 SL 222.20
Future Stock Tips
AUROPHARMA FUT BUY ABOVE 191.65 TARGETS 192.65/193.65/194.65 SL 190.60
COALINDIA FUT BUY ABOVE 306 TARGETS 308/310/312 SL 304