Nifty 8266/Sensex 27009/Bank Nifty 17948
37 Advances/14 Declines/0 Unchanged
Sensex, Nifty off day's high; FMCG & infra up, Infosys falls
RBI Credit Policy: RBI keeps key rates unchanged, says inflation risks have gone up
Market remained positive as status quo was maintained and rate action was factored in by experts as India grew at a phenomenal 7.9 percent for the March quarter and by 7.6 percent for the last fiscal year. Retail inflation, largely driven by food prices, inched up to 5.4 percent in April from 4.8 percent in the previous month, making it difficult for the RBI to cut rates any further
Nifty was consolidating till the time Raghuram Rajan maintained status quo and started rallying above 8300 after the announcement and eventually closed at 8226 on small profit booking. Bank Nifty responded well and added 275 points to the banking index.
The Sensex ended above 27000 for first time since October 2015. The 30-share index ended up 232.22 points or 0.9 percent at 27009.67, and the Nifty was up 65.40 points or 0.8 percent at 8266.45.
Our Recommendations....
We booked full profit in Our BTST call Godrej at 369 and it was recommended to buy around 359.
We also booked profit in KPIT around 185. We recommended buying in KPIT from 180.50---180.00.
Hope you all minted money in SBI and Zeel too.
Our subscribers are holding in many other recommendation in this bullish market and hope so you are also benefitting from our blog levels and recommendations.
Still need trial.... need not to worry at all. Watch more
Now what next??
Nifty Futures could not sustain 8300 level and just slipped below it to 8283 levels. A move above 8280 will take it to the next resistance of 8350---8380 and then to 8500+ mark in days to come.
Fresh selling can initiate only close below 8200 mark.
Bank Nifty too touched almost 18000 level. 18000---18200 act as major hurdle area. Three consecutive closes + weekly close above 18200 will see sharp upside move in it.
Bank nifty future has major support at 17600---17300 mark.
Traders can trade with levels only. More will update during market hours
Today's Top Pick
After SBI and Zeel... We have one more stock on radar.
We will update on our application during market hours.
To know more: Download our application now.
More will update soon!!
