Tuesday, 6 October 2015

RBI is going to announce their bimonthly review

RBI is going to announce their bimonthly review on 29 September, and market is expecting 0.25% rate cut in the policy because US fed has not increased rates in their last meeting which was held in last week. If rates will decrease by RBI then it will be a booster for Indian markets and they will go up.

If we talk about technical point of view Nifty is going to create a inverted head and shoulder in daily chart as we can see above , if break out will come then we can see nifty up to 8400-8500 in October contract.

So buy nifty for above mentioned targets on Monday will a stop loss of 7800.

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