Fearing a spurt of rate hikes by Indian banks most
investors prefer to sell than buy anything.
Banking sector faced the maximum correction and chances are high that correction is here to stay.
After rising from the lows of 8th December, Nifty peaked out on 4th January and has already touched the first strong support level on 6th January.
SO Thursday's low will be very important for Friday and if we see a closing below it then Nifty must fall all the way down to 5946.
Nifty may find good support near 50 DMA near 6013 but if it is breached then Nifty will not look back and lower levels are bound to be seen.
Nifty Pivot 6083
Support 6046-6004
Resistance 6098-6133
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