Nifty outlook seems bearish i
And immediate resistance is at 10800. Once it is broken then it will be bearish or consolidation for few days. If there is no moratorium waiver in RBI policy meet then Banks will lift the nifty to 11500 or even 12000. Reliance is not supporting Nifty which is the major reason behind the fall if you notice since 29th July. Atleast Banks should have supported as they are heavy weights but they are bearish ahead of RBI meet on Moratorium. My view is bullish if 10800 is respected and RBI doesn't wave off moratorium. IT, Auto and Pharma can lift the sentiment followed by Banking.
And immediate resistance is at 10800. Once it is broken then it will be bearish or consolidation for few days. If there is no moratorium waiver in RBI policy meet then Banks will lift the nifty to 11500 or even 12000. Reliance is not supporting Nifty which is the major reason behind the fall if you notice since 29th July. Atleast Banks should have supported as they are heavy weights but they are bearish ahead of RBI meet on Moratorium. My view is bullish if 10800 is respected and RBI doesn't wave off moratorium. IT, Auto and Pharma can lift the sentiment followed by Banking.