Bulls are in full control of the market at the current juncture and are using every intraday correction to create long positions. The price action has sustained well above the moving averages in the last few days, which is an indication of steadiness. Support for Nifty is now seen at 24,350 and 24,150-200 levels. On the higher side, the immediate resistance zone is at 24,500-550 levels and the next resistance zone is at 24,750-800 levels.
RBI rate cut to pressure bank margins, NBFCs brace for liquidity strain
RBI’s 25-bps rate cut, its first in five years, pressures private banks’ NIMs while public banks remain stable. NBFCs may see funding relief, but liquidity
February 10, 2025