Nifty levels
So finally RBI cut interest rate and it was better than expected , RBI cut 50 bps which gave a good boost to nifty as it recovered 100 points from its lowest point of the day within minutes and now its trading at 7805 . A good resistance in nifty future at 7861 once market click this and sustain above our resistance then expect market to fire upto 7910 – 7961 today
If nifty future click our technical support at 7740 and sustain below our nifty support today then expect market to correct upto 7700 – 7660 today
BankNifty levels
Banknifty reversed 400 points in 10 minutes after a surprise rate cut from governer Raghuram , now trading at 17150 , a good resistance at 17330 once market cross this resistance and sustain above our resistance then expect market to fire upto 17490 – 17630 today
If banknifty future click our technical support at 16980 and sustain below our trading support then expect market to correct upto 16850 – 16740 today
Nifty Banknifty levels conclusion : Market is still flat for now so avoid any major position
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