Nifty kept every one guessing, gone no where stayed inside the gates between 5720 and 5636. So the levels again getting importance as RBI set to announce its Monetary Policy tomorrow.
RBI continuously fought inflation with 13 successive rate hikes till October 2011, the last rate hike was exactly a year ago, while Govt trying to reduce its fiscal deficit by increasing diesel,Petrol and Gas prices.
While Fuel price hike has spurted Inflation to 7.81% in September, its getting more important to look after the Monetary Policy tomorrow. Almost all Banks are struggling for Funds and crying to RBI to cut Rates, due to slowdown in their Loan growth and increasing Bad Assets, High voltage of pressure mounts on RBI to cut rates.
So what MR. Subbao Rao going to do tomorrow, shall decide the trend in forth coming days.
>Click the Chart to see on full screen<
Many more alternative counts has been given on last 3 weeks, as Nifty kept us guess like these. Here is one more. B wave has been ended with a-b-c-d-e as a triagle,and C wave started as shown on chart.
But again 5636 or 5720 should give us a clear trend. Lets see.
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