Market movement on Event of RBI Policy

Market movement on Event of RBI Policy, Nifty Support & Resistance, Midcap shares, Small cap shares, free tips for tomorrow.

The markets closed with significant declines today with FMCG and MNC being the biggest loser. The Sensex closed at 19593, down 158.80 points from its previous close, and the Nifty closed at 5831.65, down 54.55 points. The CNX Midcap index was down 1.29% while the Smallcap index lost 1.56%. The market breadth was negative with advances at 326 against declines of 822 on the NSE.

Benchmark Index Nifty will open slightly negative, support at 5803-5750 and resistance at 5872-5897. RBI policy will decide market movement for coming days. Bearish mood will active only below 5817 and below 5790 may be it’s create panic in Indian markets. High volatility will expect and nifty will trade in broader range. For risky trader suggested to go short if market will give flat or positive opening with stop loss of 5895.

Our outlook is negative for short term and advice to go short on higher level