Nifty Analysis!!

1. Today market was expecting rates cut by RBI and negative response spoiled the market
   sentiment and market made a low of 5041 from a high of 5190.
2. Closing of nifty is at 5064, which is crucial for the market.
3. Market today closed out(below) of the 5 days range.
4. Level of 5070-90 is the resistance level where reversal of the market can be seen.
5. Downgrade of market by Fitch today was unexpected as well.
6. Tomorrow the market looks weak fundamentally as well and technically as well.
7. Support can be seen at a Fibonacci levels of 5030-4980-4930!!!!
8. However MACD is making a lower low whereas market have made a higher low which was
   indicating negative movement and that was been expected from the chart!
9. Market sentiments seems to be weak!
10. downside movement can be seen tomorrow in the market.