For intraday trading on Monday, Nifty is expected to trade in the range 5,400-5,545. If indices trade above 18,215/ 5,465 then they are likely to test 18,350- 18,480 / 5,495 - 5,530 levels. On the downside 18,060 / 5,410 levels remains crucial. Any breach of this level during the day, would result in loss of momentum on the upside and indices may slide to 17,950 - 17,880 / 5,420 - 5,380 levels.
For next intraday trading session any move above 18,470 / 5,540 would lead indices to test 18,640 - 18,750 / 5,580 - 5,610 levels. On the downside, markets could find support levels at 18,225 - 18,120 / 5,475 - 5,440.
For intraday trading tomorrow, the trend deciding level is at 5,500. If Nifty shows strength above 5,500 levels, then rally to 5,550/5,580/5,625 levels may be seen. On the down side if Nifty does not show strength above 5,500 levels then selling pressure till 5,440/5,400/5,350 may also be seen.
Market outlooks are likely to be affected by the outcome of RBI's meeting tomorrow. Nifty is likely to consolidate within 5,370-5,530 range.
Sentiment may remain weak below 5,500 level and selling pressure may be seen until it trades below this point. For intraday trading, trend deciding level is 5,470. If Nifty shows strength above 5470 levels, then rally to 5,510/5,540/5,570 levels may be seen. If Nifty does not show strength above 5,470 levels then selling pressure till 5,410/5,370/5,325 may also be seen.
Market has traded above its resistance levels and confirming that it is now come in uptrend. For trading tomorrow if indices trade above 18,450 / 5,540 levels then they are likely to touch 18,588 - 18,700 /5,575 - 5,600 level. On the downside indices have support at 18,380 - 18,250 / 5,480 - 5,440 levels may act support for the day.