Today(17-4-12)Reserve Bank of India (RBI) in its annual monetary policy for 2012-13 slashed the policy rates by 50 basis points. The repo rate at which banks borrow money from RBI now stands at 8% from 8.50% earlier. Similarly, the reverse repo rate at which RBI borrows money from banks is now at 7% from 7.50% earlier. After this announcement Nifty gained 50 points, retraced entire gains and again gained 70 points to close at 5290 with a gain of 64 points. Nifty and Nifty futures ranges were 5208 - 5298 and 5221 - 5325 respectively. Today Nifty touched Kaprekar numbers 5238 & 5283. If Nifty moves to Kaprekar number 5328 Nifty may move to 5382 within next two days. Agni level for tomorrow is at 5257.
5 comments:
Hi Nandi jee....i think the correction is over ...and now we will have a swift rally ..with a first target of 5600 and then 5900...but i remember in one of ur posts i think last month .....that there was a FREAK trade of 4900 level for June contract ...do i recall correctly????
Dear Jonak,
"Don't think, just feel it like a moon" said Bruce Lee to his student in "Enter the Dragon". Don't think, just feel what the figures tell us. By tomorrow or day after tomorrow Agni level may move above Nifty and sell signal generated. On 25th there is Moon-Venus conjunction which is a down day. F&O options figures indicate 5200-5400 range for next week. So a swift rally to 5600 is ruled out for the next week. Freak trade for June was 5022 (8-3-12). Mini Nifty low on 14-3-12 was 5000(when Nifty futures traded in the range 5472-5542).
As told in the beginning don't trade on feelings- trade on what your trading system tells you. Also don't ignore that petrol price hike is on the anvil.
by swift rally i did not mean Nifty will reach 5600 next week ..offcourse there will be corrections and I will book profit and try entering at lower levels....
but the thing i wanted to ask is the JUNE trade figure....i meant to ask that whatever rally or not we see from here.....we should see NIFTY 5000 levels in JUNE ...right???
Dear Jonak,
Till yesterday indication was 5000 in June 2012 series. But, yesterday there was again a freak transaction in the same series @ 5400. So, both chances of 5000 & 5400 are open now.
Sorry if Nandi did hurt your feelings through the reply for your comments. The word "swift" may be the cause of misunderstanding.
no problem at all
Post a Comment