ALL EYES ON RBI Indian Stock markets today will be in the hands of RBI Governor Raghuram rajan and it will move majorly on RBI Policy news rather than any global cues or other factors such as commodity or currency. Most of the think tank are expecting NO RATE CUT i.e. STATUS QUO policy where Rajan may maintain the current REPO rates of 8% and be more dovish for future rate cuts once core Inflation (Non food and fuel) comes into better control. However based on my tape reading for yesterdays market, I expect a possibility of 25bps rate cut personally which will be taken well by markets. However trading before the policy and more so the high volatility involved in the event, better to wait out for the cat to come out of the bag before you look into the next move. Technically NIFTY has to cross atleast 8605 today and 8634 decisively for a strong upmove. Bank nifty holds crucial support at 18450-18480 zones and only on decisive break of these levels, we might see further profit booking and sell off. ALSO ALL THOSE WHO ARE LOOKING AT BUYING GOLD FOR SHORT TERM CAN START BUYING IN SMALL PROPORTIONS OF 25% of your total requirement NOW. I dont see a correction of more than 5 to 10% from current levels. CA Rudramurthy B.V. ACA, CFTe, MCOM, MFM, MPHIL, PGDBA. Research Head: Vachana Investments Pvt Ltd. vachanainvestments 9663258258, 9972257225. Do LIKE our fanpage for LIVE updates on your wall during market hours. https://facebook/RudramurthyCA Watch PUBLIC TV LIVE daily bw 7.25am to 7.30am by CA Rudramurthy for complete updates on markets. Do forward this message to all and join hands with us to spread right financial knowledge. For HNI Services ONLY ONLY ONLY call 9591244311
Posted on: Tue, 02 Dec 2014 04:47:00 +0000
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