NIFTY (SPOT) Analysis for W/C 04/06/2018
After taking support at 10420 level, NIFTY is continuing its pullback rally and faced resistance at 10765 which is a downward trendline on daily chart. NIFTY is likely to be range bound this week between 10550 and 10850. Below are the Support and Resistance levels for positional traders.
Resistance: 10765, 10835, 10875 and 10930; Support: 10620, 10550, 10415 and 10350
On macro front, RBI interest rate decision is scheduled at 2.30 pm on 6th June. Market expect no change in current repo rate of 6%, any increase in interest rate will be negative for the markets.