After a prolonged consolidation for one month market may take some direction today. The RBI Credit policy will give some direction to the market today. What could be the direction? Here is my Analysis.
Fundamental View
After the recent developments in policy reforms Indian market seems to enter a long term bull phase. People who are investing for 6 months are more can start buying now. The recent consolidation is an opportunity for fresh buyers.
Technical View
As per my favorite tool for Technical Analysis, Bollinger Bands I expect the market to take support between 5500-5550. If it breaks the 5500 level then the NIFTY can be seen around 5215. But the chances to break 5500 are very less. As the fundamentals are supporting the market.
Fundamental View
After the recent developments in policy reforms Indian market seems to enter a long term bull phase. People who are investing for 6 months are more can start buying now. The recent consolidation is an opportunity for fresh buyers.
Technical View
As per my favorite tool for Technical Analysis, Bollinger Bands I expect the market to take support between 5500-5550. If it breaks the 5500 level then the NIFTY can be seen around 5215. But the chances to break 5500 are very less. As the fundamentals are supporting the market.
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