Indian benchmark indices are trading
positive post expected election polls. Though indices are unable to perform as per the expected because of worrisome news regarding India’s growth forecasted by IMF & World bank last month. IMF cut India’s GDP growth to 6.1% from 7% earlier and World bank cut India’s GDP to 6% from 6.9% earlier. After 3 days Nifty opened at 11657.15 almost on flat note, post Assembly Election held at constitutions of Maharastra & Haryana. Nifty made a high of 11714.35 & made a low of 11631.5 during the day. Nifty is trading near it’s strong resistance around 11690 levels. Nifty has strong support level of its trend line near 11420 levels. ADX is currently around 49 levels which shows good positivity in the momentum & RSI is also showing positive momentum.