Nifty Intraday Outlook 15-Dec

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For Intraday trading on Thursday 15-Dec Nifty is having resistance at 4,820-4,875 while the support is there at 4,730-4,645 levels. In Indian Stock Market this will be a crucial day and all eyes are on RBI mid quarter review results. Market sense is that the RBI will leave the rates unchanged this time and will resort to lowering the same at their quarterly review in January 24, 2012. Having said that, if RBI cuts the rate by 25-50 bps then we may see buying interest in the beaten down rate sensitive sector stocks.

The market will take cues from the global markets and is expected to open on a negative note tomorrow. Trade short in Nifty at 4,780 levels with stop loss placed at 4,800 levels for targets of 4,750-4,730 levels.

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