After RBI's policy declaration and clarity over Goldman Sachs punters were busy in making long positions but now is the time that they are booking profit.
Nifty is standing at strong turning point of 5239 and around this level we will see a lot of action.
As long as Nifty stays above 5226 level we may relax but below this level bears will be in the lead role and weakness must persist.
Nifty will take some support at 5209 level in that case but ultimately more weakness may come.
We advise traders and investors to buy on dips in the range of 5190-5162.
| Important Nifty Levels for22nd April | ||
|---|---|---|
Nifty Pivot | 5239 | |
| Support | ||
| 5226 | 5198 | 5162 |
| Resistance | ||
| 5262 | 5286 | 5304 |
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