LATEST WEEKLY OUTLOOK
After three red weeks Nifty started its journey on a positive note with a gap up opening on Monday (30-04-2015) after a deep crack from 9119 to 8269. It was on Monday that the Indian Markets witnessed a sunny morning after long dark days of bearishness. Nifty took a breath after the continuous downfall, on Monday soaring nearly 2% with a gap up opening at 8492. After a small breather on Tuesday it again rallied 1.15% on Wednesday and ended the short week at 8586.
Going ahead, the following week will witness RBI’s credit policy. Owing to this event markets may turn volatile. It is the statement of Dr. Rajan, which will decide the tone for markets. The support and resistance for Nifty are 8250 and 8900 respectively. People are advised to trade with strict stoplosses. Take a directional call only after Tuesday i.e. after the credit policy.
ULTIMATE GUIDE TO INDIAN STOCK MARKET 