Tuesday, April 17, 2012

Nifty Intraday Analysis Apr 17

RBI has made a tendency to surprise the market time and again. Last time it declared CRR cut just after closing the market that too more than expectation. This time, going against all expecation of 25 bps rate cuts, RBI reduced it to 50 bps. Though global cue dampen the bullish force and force it to touch 5220 level again.  Europe open positive, it start moving slowing in up direction and stopped just before crucial resistance of 5300. We can see Nifty level to 5380 if crossed 5310

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