Tuesday, October 29, 2013

Flat to positive opening is expected-RBI policy day

Flat to positive opening is expected …traders are booking profit since last 6- 7 sessions may continue today also . RBI Governor Mr  Raghu Ram Rajan will announce RBI policy and out look on GDP  will dictate market direction … restrictions   …The wholesale price (WPI) and consumer price inflation, both, accelerated in September 2013. WPI inflation accelerated to 6.46% in September 2013, from 6.1% in August 2013. The annual rate of inflation based on the combined consumer price index (CPI) for urban and rural India rose 9.84% in September 2013, from 9.52% in August 2013.every one is expecting 25 to 50 basis points rate increase to tame inflation but if status quo will be there then ??? will bank nifty and nifty shoots up ? Technically charts are supporting bears have a look at nifty eod chart .


Bank nifty eod chart is showing bearish engulfing candle after 3  4 days range bound trading .


Trade in Nifty Futures as per these levels

Buy at / above: 6126   Targets: 6144 – 6159 – 6178 – 6198-6218
Stoploss : 6103
Sell at / below: 6103   Targets: 6086 – 6067 – 6048 – 6028-6003-5956
Stoploss : 6126

Stay at dhanvarsha chatroom for free trading calls and support from experts   http://dhanvarsha.in/chatroom/

Get 50 % discount on annual subscription ..

Learn  trading and prediction while staying at home  through our distant learning programme …

images (1)

Flat to positive opening is expected-RBI policy day

No comments:

Post a Comment

Please remember...your comment should not contain nudity or vulger language in addition to advertisement of your blog/site or any product ...and should not hurt the readers emotions...if that will be case it will be removed on first review of admin staff... Regards