• Deepak

Index level for 4 June

Nifty Spot closed at 12088

Resistance at 12140, 12165

Support at 12030 , 12000


BankNifty Spot closed at 31653

Resistance at 31790, 31910

Support at 31410 , 31220


View: - BankNifty was relatively a under-performer before the RBI event. Expecting BN to also take out highs of 31 May. Market likely to give a failure above Yesterday high in Nifty and get back inside the range of 3rd June.

On Highs will look for Profit booking signs / exhaustion. Today's trade is not the key, purpose will be to adjust positions going into RBI event and expect a move on 6th June post event. So, will keep eye on market behavior today and prepare for 6th June.

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