Sudden announcement of FDI Policy on Friday evening, Made every One surprise. It seems that Every thing was Planned Previously.
RBI also cut CRR by 25 BPS. Now the Question is why RBI refused to Cut for last 4 Session - as they have indicated Inflation as an Important Point of concern. As Diesel Price Hike may Impact 100 BPS on Inflation - is RBI cutting rate at right time.
Even though after Diesel Hike - Many voices are raised that fiscal Deficit shall be More than 1.25 Lak Crore Vs 85K crore Previously.
Nifty as Expected made a Gap Up Opening - made a come back in the afternoon session after RBI cut the Rates.
Now will Nifty cool at least a Bit form here ??
>Click the Chart to see on full screen<
Nifty Channel shows it faces Resistance near 5650.
>Click the Chart to see on full screen<
Hourly chart says sw(iii) has been completed near 5650 may correct for sw(iv) which may be near 5500 or 5450 as it may fill the gap left on chart.
Lets see. Cheers!!!
