Market discounted RBI policy.Market could not sustain at higher levels Nifty closed below 5950.

Indian equity market has already discounted the most awaiting influential event, that is RBI Credit policy. Nifty failed to sustain above 6000 mark and ended at 5943.45 after ebbing 55.9 points whereas Sensex ended at 19576.58 after shedding 159.19 points. 
Reserve Bank of India cut its policyinterest rate by 25 basis points on Friday for the third time since January, as expected, as growth slows and inflation ebbs, but said there is little room to ease monetary policy further. The Reserve Bank of India trimmed the repo rate to 7.25 percent, its lowest since May 2011, and kept the cash reserve ratio (CRR) for banks unchanged at 4 percent, also in line with expectations.
Among NSE Sectoral Indices, PSU Bank Index Banknifty was the major loser by 3.28% followed by the Banknifty index by 2.57%. The IT index was the top gainer by just 0.39%.
In Nifty50 stocks, Jindalstel was the top gainer by 3.81%, ended at 318.45 and Tatamotors was the top loser by 3.99% which ended at 285.6
Rcom was the turnover topper by the traded quantity and SBIN was by the traded value today on NSE.
Advance / Decline ratio was negative at 1.8:1 as 312 stocks gained and 564 stocks declined on NSE today.

Nifty Outlook : 
Nifty Fut. failed to sustain above 6030 which will be considered as a resistance on weekly chart. Consider 5870 is a near support. Any sustainable movement above or below these levels will lead the direct to the direction accordingly.
Immediate Support : 5870
Immediate Resistance : 6030