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Markets snapped four day winning streak  dragged by rate sensitive shares after expectations of a rate cut were dashed with the Reserve Bank of India maintaining a status quo on key policy rates. The Sensex was up 4.5 per cent and Nifty was up 4.7 per cent in past 4 days. The BSE benchmark index slumped 243.45 points to finally end at 17675.85. Nifty slipped -83.40 points at 5,380.50.

The Government pegged inflation to be at 6.5-7 per cent by Match 2012 in the economic survey conducted today. FY12 industrial growth has been pegged at 4-5 per cent while the same for 2013 is at 7.6 per cent.

Nifty Futures
Nifty Futures shut stop at 5414.20 down by -91.90 points or -1.67 %. It is looking bullish in the coming trading session if it manages to trade above the resistance level of 5510 else below support level of 5390 it would be in a downward trend.

RESISTANCE: It has first resistance close to the level of 5510 & above this level the next resistance is seen near the 5570 mark.

SUPPORT: It has first support close to the level of 5390 & below this level the next support is seen near 5360 mark.

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