My observation about tomorrow is as follows
"RBI conducts OMOs either to soften bond yields or pump in more liquidity. This time, it is aimed at curbing rupee depreciation by giving rupee liquidity support," said A D M Chavali, executive director, Indian Overseas Bank. OMO will took place on Friday, May 25th
Resistance: 4955 > 4920 > 4906
Support: 4822 > 4788 > 4750
- Ugly bottom is in making
- Rs is at all time high
- RSI reading is lowest in recent past in weekly chart
- 4955 is first huddle to cross for bulls
- 200 Week SMA is at 4822
- Highest continuous (5th week) down on weekly basis
- RBI announces OMO of 12K, which may provide strength to weak Rs.
"RBI conducts OMOs either to soften bond yields or pump in more liquidity. This time, it is aimed at curbing rupee depreciation by giving rupee liquidity support," said A D M Chavali, executive director, Indian Overseas Bank. OMO will took place on Friday, May 25th
Resistance: 4955 > 4920 > 4906
Support: 4822 > 4788 > 4750
Thanks for sharing this great piece of information. Do keep us update with some more great information.....Nifty outlook | Bank nifty
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