Market Sentiment is likely to remain cautious & volataile due to F&O expiry & RBI policy in a 3-day truncated trading week.
RBI policy meet on 25th Oct would be a key trigger as to whether it gives preference for sustaining growth or tighten rates further to tame rising Inflation.
Rupee breaking below 50/$ mark is a major cause of worry.
Nifty Futures displayed displayed reluctance to cross & sustain above 5150 or break below 5025 as selling pressure was witnessed on all rises & buying support emerged at lower levels resulting in Nifty to oscillate between 5025-5165 range with highest open Interest built up in 5000 Put Option & 5200 Call Option.
Going Forward, Pullback upto 5290/5360 would be witnessed only if Critical Resistance area 5168-5186 is crossed & Nifty Fut closes above it.
If does not cross 5186, Nifty Futures may trade in trading range 5015-5186.
Strong support lies @ 5015-5025 & Selling pressure would intensify upto 4904/4849 on break & close below 5015.
Regards, Team Market View Investments. Mo : 9987750901. Visit www.mktviews-nifty50.blogspot.com Facebook : www.facebook.com/mktviews. Never Forget : Our NATURE is our FUTURE !!! |
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