The RBI maintained status-quo on REPO rates and it was in line with the market expectations. Therefore we could not see any violent move in BNF.
Today Nifty further drifted downwards below 10100 and closed below support level of 10088. This could be a disappointment for bulls. But market is in no mood to move up.
One can expect Nifty to come down to 9920 where it can take support and move up. This could be the last level provided global factors do not give jitters to our market.
On BNF watch for 24400/350 to come before election results.
Do not go long in this market and do not buy CEs as immediate reversal or bounce back is not visible in near term - week to 10 days-.
Try your luck with BNF month end PE of 24000/24500 for decent returns.
See how Nifty is struggling in the picture.. ha...ha...
Happy Trading!!
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