Tuesday, November 2, 2010

Nifty closed flat even after RBI's Repo Rate increase

Today(2-11-10)Nifty closed flat at 6119 even after 25 basis points raise announced by RBI in Repo and Reverse Repo rates with immediate effect. Volatility was low as can be seen from the Nifty's +20 to -24 points variation. Nifty futures range was 6128 - 6174, having a difference of 46 points only. RBI didn't announce any other steps to tame the inflation, which continues to surge and that may the reason market hesitated on announcement of expected 25 basis points increase in Repo and Reverse Repo rates. Let us wait for tomorrow also to know whether Nifty intends to move to D1. Agni level for tomorrow is at 6078.


Sujatha said...

nifty D1 done.. this new moon will be a high or "ulta"?? very interesting..

Nandi said...

Dear Sujatha,
Amavasi and Pournami causes trends to break and reverse its course. In 10 out of 12 instances Pournami causes markets to fall and Amavasi on the reverse. This time expecting a reverse case.