Stocks rise on positive global cues and on a moderate RBI policy. However, the market failed to sustain above 5250/
17570 levels, which was the minimum requirement for further retracement.
For the day, the level of 5205/17390 and 5260/17560 may act as a major support and resistance for the market and sustenance
above and below the same will direct the market accordingly. Below the level of 5205, we may expect the
market to fall to 5180/5185 again and sustenance below 5180 in the second half of the trading session may drag down
the sentiment further to 5130 levels. On the higher side, 5250/5260 may act as a hurdle area and sustenance above
will lift the market to 5290/5325 levels.
In brief, for the day follow the levels strictly to trade.
