Nifty & Bank Nifty Remains Bearish

The week started off with losses as the RBI’s monetary policy affects all the banks as well as the

stocks and whole week the markets have continued to shred their gains. The much awaited RBI

monetary policy which was the first policy by Raghuram rajan has increased the expectations of

the investors. But the markets were continuously down due to the increase in repo rate by RBI

which was unexpected.

Nifty traded in the range between 5,990 and 5,820 levels. Overall it lost around 2.9 percent for

the week, touched 6 day’s low. The trend in Nifty remains bearish and it may reach till 5730

levels.

RBI has increased the repo rate by 25 basis points and decreased Marginal Standing Facility by

50 basis points in the monetary policy. After the increase the repo rate is at 7.50 percent and

MSF is at 9.50 percent.

Banknifty traded in the range between 10,510 and 9880 levels and lost almost 6 percent for

the week, touched a month’s low after losing continuously for 6 sessions. The overall trend for

Banknifty is bearish and it may reach till 9110 levels.

These Recommendations are based on TECHNICAL ANALAYSIS, THEORY, RESEARCH and NEWS. Due care has been taken while preparing these comments, no responsibility will be assumed by author for the consequences what so ever, resulting out of acting on these recommendations we are not responsible for any losses made by traders. The calls made herein are for informational purposes and are not recommendations to any person to buy or sell any securities. The information is derived from sources that are deemed to be reliable but its accuracy and completeness are not guaranteed. The above calls are based on the theory of technical analysis and news. The author does not accept any liability for the use of this column. Readers of this column who buy or sell securities based on the information in this column are solely responsible for their actions. Neither the author nor his company either trade or have position in any Call mentioned in this column.