Nifty Future:

Yesterday market has overreacted to Bernanke’s  decision of postponement of winding of QE.  There are lot of Gap openings in last 15 days in this frenzied upmove of over 1000 points in Nifty and these are unfilled, till this day. Today happens to be an another event of RBI’s monetary policy. This could either tame this upmove or further fuel the euphoric move.

For today’s trading, Nifty should take support around 6113 with stop at  6090 in 30MTF close.  On upside it will resist at 6192 and if RBI brings some positive surprise, then it could move to 6250 – 6350

In the event of closing below 6093 in 30MTF close, then it can correct sharply to 6000 – 5920

Stock Future: ( As per Profile Chart Reading):

Bank India closed above Value Area High and chart setup suggests it can move to  215 . SBI has done 5 days breakout in MP and can run to 1875 – 1950.  In Auto sector, M&M could do well on upside in next few days.

Good Luck !!