On 15th January, 2015(Thursday) Reserve Bank of India Governor Raghuram Rajan cut repo rate by 0.25 per cent with immediate effect. The announcement came at 8.45 a.m. just before markets opened. The reasons for choosing such a time just before market openig is ambigous. As a result Nifty opened at 8425(+147), rose up to 8527(+249) and closed at 8494(+216). Nifty futures high was 8564. As per NSE statistics reported in Business Line, retail investors were heavily short on Nifty futures with 6,37,191 contracts and this "cut" had felt like a stab from the back. What's Rajan's gain in this unprecedented move is unknown.
4 comments:
On 15 Jan 2015 23:34, "musti indori" wrote:
What ever any one says, me stick to my view.
This is the most cheated way of GOI to declare rate cut early morning.
Its pure manipulation.
May be Rbi & other govt institutions might involved in it.
But this is not way, some thing big fishy now with our markets.
Technicals are at other part, but on an mango man view RBI does a Cheated action for retail, only insider enjoy this rally, not mango traders.
Dear Nandi can you please share the link as you posted in your blog "As per NSE statistics reported in Business Line, retail investors were heavily short on Nifty futures with 6,37,191 contracts" of this article?
@ Never give up,
It will be available in participant wise open interest in derivative section data. The link Nandi is checking is available for 24 hours only. Now you can check the figures reported in Business Line along with the chart.
http://www.nseindia.com/products/content/derivatives/equities/archieve_fo.htm
date as 14-01-2015
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