8:38 AM
Unknown
The
markets had a rollercoaster ride so far this week with benchmarks oscillating
sharply between key psychological levels. Globally, concerns about Greece's
future eased slightly after Germany and France pledged to stand behind their
commitments to keep the debt-laden nation in the euro zone. Back home, the food
price index declined marginally to 9.47% and the fuel price index went up to
13.01% in the year to September 3, 2011. India’s benchmark wholesale price
inflation accelerated to a 13-month high of 9.78% in August. Market
participants will closely watch the Reserve Bank of India’s (RBI) stance in
Today policy meet, where despite 11 successive rate hikes, the inflation hasn’t
cooled off while growth has faltered as indicated by recent IIP data. Meanwhile,
the rupee cooled off against the dollar after touching 2-year high after RBI
intervention. The India volatility index (VIX) declined 5.1% and reached 30.8.
In my opinion yesterday market
closed the gap(5047-4986) of 61 points which happens Monday with strong volume
, With the support of Bank Nifty it also filled the Monday gap at the last
minute of closing, Today RBI policy meet expectation is central bank will rise
repo rate, But there will some surprise!!! Comes market will celebrate up to
5320 it will be the High. Don’t take any long position leave the market to
react for central’s announcement Wait
and Watch, Go Short on Higher level