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Morning Market Outlook

* The market is expected to open on a flat note as investors await the RBI's credit policy announcement today, along with key US jobs data that could provide insights into the US Federal Reserve's future interest rate decisions.

* The RBI is anticipated to cut interest rates by 25bps, a move that would be the first since May 2020 under the new governor.

* Globally, US stocks ended mixed overnight, with the Dow Jones industrials seeing a decline as investors reacted to the latest corporate earnings.

* The European market rose 1.5% following a 25bps interest rate cut by the Bank of England and strong quarterly results. Favourable factors like the Union Budget, strong earnings and falling oil prices to a 5- month low of $74/bbl could boost market sentiment.

* Expect interest rate sensitive sectors such as banking, real estate, and automobiles to see momentum ahead of the RBI policy meeting

NIFTY (CMP : 23603) :

Nifty immediate support is at 23500 then 23400 zones while resistance at 23750 then 23900 zones. Now it has to hold above 23500 zones for an up move towards 23750 then 23900 zones whereas supports are placed at 23500 then 23400 zones.

BANK NIFTY (CMP : 50382)

Bank Nifty support is at 50000 then 49750 zones while resistance at 50500 then 51000 zones. Now it has to hold above 50150 zones for an up move towards 50500 then 51000 levels while on the downside support is seen at 50000 then 49750 zones.

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