This week Market movement was on the basis of Domestic and global economic news
- we saw market falls after china fuel trade war fears by imposing new tariff on US goods by USD 50 million
- But next day market recovers after RBI kept all key rates unchanged and lowered inflation forecast which added spark in the market.
Next week market is expected to trade in a range (consolidation phase) as
- We still not claims that bulls are totally having upper hand in the market
- Still trade war fears are still intact and fresh buying at this point should be avoided
- There are few crucial resistance that both Bank Nifty and Nifty future has to face
- Key resistance for Bank Nifty future is 25070-25100 followed by 24370-24400 and Support for the same is 24500
- For Nifty future 10390 is crucial level followed by 24470-24490 and support for the same is 10265-10290
- This range is very important as breakout in any direction will attract directional movement in the same side.