Market is expecting a minimum of 25 bps interest rate cut announcement from RBI at its Jan 29 meet.
As against this, RBI governor had clearly stated earlier that controlling inflation will be his top priority.
Therefore, speculations are rife in the market over the fate of interest rate cut. This was clearly evident from the kind of directionless and lacklustre trading sessions that were witnessed over the past few days.
Finally, outcome of RBI Jan. 29 meet will clearly bear out the mood of the market for the coming week.
NIFTY 31-Jan-2013
ReplyDeleteCurrent Market Situation :
NIFTY current close : 6035
NIFTY resistance level : 6158
NIFTY support level : 5912
NIFTY sentiment : positive
NIFTY dominant cycle period : 18 days
Levels Tomorrow :
NIFTY intraday resistance 1 : 6060
NIFTY intraday resistance 2 : 6089
NIFTY intraday resistance 3 : 6131
NIFTY intraday support 1 : 6009
NIFTY intraday support 2 : 5980
NIFTY intraday support 3 : 5938
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