As per expectation RBI hiked rates by 25 basis, but still inflation is worry & RBI hinted another rate hike next month. So resistance 5600 looks still looks intact for nifty. Now it depends upon severeness of Japan's N plant problem and disturbance in Middle east, our market will decide the direction.
Debt problem in Europe is also not improving, last week Spain & this week Portugal downgraded.
2G scam FIR will be filed on 31st March. So lot of negative news are flowing in our market & international market. Nifty is showing support at 5400 level because we have fallen much than other markets since Jan 2011. Yesterday's drop in Dow Jones and dollar hitting all time low against yen Since 1995 are negative developments. There are possibilities of more cash flowing to Japan for development & rebuilding work.
Debt problem in Europe is also not improving, last week Spain & this week Portugal downgraded.
2G scam FIR will be filed on 31st March. So lot of negative news are flowing in our market & international market. Nifty is showing support at 5400 level because we have fallen much than other markets since Jan 2011. Yesterday's drop in Dow Jones and dollar hitting all time low against yen Since 1995 are negative developments. There are possibilities of more cash flowing to Japan for development & rebuilding work.
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