Posted By : Kishore B.S
Nifty traded in a 40 point range holding 5200 level for most of the day. Now tomorrow we are having RBI’s policy. The chances of a repo rate cut happening is very high. There are chances that RBI may cut even 50 basis points and that will be a huge boost for the market.
Today we got to see that markets are not driven only by the global factors but also by domestic factors. Most of the Asian markets were trading in red with huge losses but Indian market held its support and eventually closed in the green on back of the policy tomorrow. All the markets are falling in the past few days. So, it might be a time for a pause and a recovery.
The inflation number and economic growth are pointing towards RBI cutting rates. All long positions should be held with a stoploss of 5170-5150. No short positions should be initiated at current levels. Just sit back and see the policy before taking any position.
(Inputs Mr. Shubham Deva, A Stock Market Institute Associate, IIT Kanpur)