SMI –9th october 2013 – Market View

Posted By : Kishore B.S

Hi Friends,

Nifty rallied yesterday on back of RBI cutting the MSF rates by 50 basis points. However, the rally could not be sustained with Nifty closing near its low point of the day.

Yesterday Europe and US were trading deep in red due to no solution to the US Government shutdown. But Asian markets have dodged the bullet today. Asian markets are trading flat to positive. The appointment of Yanet Yellen as the new Fed Chair has soothed the market as she is in favour of extending the QE.

Today we have the CAD data for September. The markets are expecting it to be between $10-$12 billion. Any surprise on either side will lead to a jump on either side in the market.

Next in store is the Infy result which will give a direction to the market. The upside still looks capped as the macro economic condition is still weak.

Cheers  !!

Team SMI

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