Nifty analysis
As we said we will start updating nifty once RBI clears its policy and today RBI governer noded to those who was expecting an interest rate cut , No rate cut happened as we expected and now nifty futrue trading down 40 points at 8520 , a major support in nifty at 8480 once it click this major support and sustain below it then expect nifty future to correct upto 8450 – 8420 today
If nifty future click our resistance at 8580 and sustain above our resistance then expect nifty to fire upto 8620 – 8660 today
BankNifty analysis
Banknifty did not effected much with this decision as its riding on PSU which expecting some major funds from govt this year and its in positive zone at 19000 , if banknifty future click our resistance at 19140 and sustain above our resistance then expect banknifty future to fire upto 19270 – 19400 today
If banknifty futrue click our support at 18870 and sustain below our technical support then expect banknifty future to correct upto 18740 – 18600 today
Market analysis conclusion : Market trend is weak for now as its not holding upper levels