Watch for RBI announcement tomorrow

Blog meant for 7 Dec 2016 Wednesday

Dear friends,

Nifty started strongly positive today but finally closed marginally higher, 14 points up. The global cues are mixed as European markets have closed in the green but the US markets are marginally lower tonight. Tomorrow, the RBI meeting is scheduled to decide on interest rate cut.

There is high expectation that there will be slight cut in rates to provide some momentum to the slowing economy due to the demonetisation. A rate cut could be a good news for markets and the overall economy. Let us see what the RBI Governor decides tomorrow.

Nifty is in Don’t Buy zone. As per 30 days moving average graph, the following are the indications for short term –

Don’t Buy – Titan, L&T, HDFC, M&M, Axis Bank, HDFC Bank, Maruti, TCS, Infosys

The situation in the markets hasn’t changed in the last few days. We are yet to see a sustained movement in either direction. Markets have been somewhat flat.

Watch the RBI announcement tomorrow which could result in a more stronger movement

All the best!

Dr.Bharath Chandra

About the author

Dr. Bharath Chandra

Hi there! This is Dr. Bharath Chandra & Rohan, International Trainers & Success Coaches. We have addressed more than a crore people on Stock Market, Personality Development, Wealth Management and Financial Planning over the past 35 years.

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