A 50 bps ( basis points ) CRR cut is factored in the market. Anything above that will hurt bad. 4750/30 is the last resort for bulls. If they can't hold that level, they wont be able to hold the market in the medium term.
I apologize for making the post brief as I have been busy with some personal commitments. Kindly excuse me for the same.
LEVELS FOR MEDIUM TERM : 4750 ( NIFTY ) 15900 ( SENSEX )
LEVELS FOR LONG TERM : 4500 ( NIFTY ) 15300 ( SENSEX )
CONCLUSION :
If we are indeed a country which is set to become the next superpower...If you believe the India Story which forecasts a 8-9% GDP growth. Then 15500/300 should hold.
Have a great trading day and be careful.
Regards,
Rahul T.
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