Hence the decisive move may happen tomorrow after RBI announces its credit policy. There were lot of fears in the market after the Budget that the Interest rates are headed up due to the borrowing programme of the government.
Some people in the market even today feel that interest rates can go as high as 100 basis points which in our opinion is an overstretched expectations. We infact feel that RBI may leave the rates unchanged and this will be a major boost for the bank stocks. Some bank stocks were already reflecting this opinion in their prices today.
The government & the RBI cannot afford to let the rates rise and should do everything so that consumer confidence is not affected.
The latest issue of Money Today talks about the importance of Financial Planning and deals with all aspects of the same, we feel everyone should have a look atleast at the libraries.
NIFTY (4572)
Resistance : 4605 / 4635 / 4665
Support : 4535 / 4495 / 4445
Resistance : 15495 / 15595
Support : 15260 / 15125
Resistance : 4615 / 4640 / 4665 / 4680
Support : 4565 / 4530 / 4505 / 4485
MKT COMMENTS
NIFTY FUT OI (both series) up with decreasing volumes indicating forming of short positions at higher levels.
We expect profit booking at higher levels.
Buy NIFTY Above 4570,Sl Below 4555,Tgt 4600/35/70/95
Sell NIFTY Below 4545,Sl Above 4560,Tgt 4540/05/4470/25
Buy Above 850,Sl 845,Tgt 860/65/70/75/80
Sell Below 840,Sl 845,Tgt 830/25/20/15/10
Buy Above 765,Sl 755,Tgt 775/85/95+
Sell Below 750,Sl 760,Tgt 740/30/20+
Buy Above 123,Sl 121,Tgt 125/27/29/31
Sell Below 120,Sl 122,Tgt 118/16/14/12
Buy ICSA Above 180,Sl 175,Tgt 185/90/95
Buy NAGARRCONST Above 140,Sl 135,Tgt 145/50/55+
Buy KOTAKBNK Above 660,Sl 650,Tgt 675/80/85/90/95+
Sell RECL Below 175,Sl 180,Tgt 170/65/60/55
Sell SBIN (1711),Sl Above 1730,Tgt 1695/80/70
Sell HDFC Below 2380,Sl 2395,Tgt 2360/45/25/05/2290/65/40/15 [
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