Wednesday, June 6, 2012

Market Outlook Today and Nifty for Tomorrow

What a day for Indian Stock Markets!. Making all the sectors clsoe in green, the share market closed after substantial gains.

Amid robust global cues and on the back of the hope of rate cut by RBI, Nifty earned 134 points to close near its day high of 5009 and rose over 2.70%. The Major factor for today's elevation was the anticipation that Reserve Bank of India may go for maximum 50 basis points repo rate cut instead of 25 bps in its policy meet which is schedule to be announced on June 18. This cut in rate could be a big relief for infra stocks.

For Tomorrow i.e 6 June, 2012, market may go further up. Technically, Nifty futures will have to stay above 5000 level to remain positive while 4900 is acting as stiff support level for Nifty future. Trader needs to be cautious for intraday trade and keep an eye on the market affecting cues before taking any decison.


Posted By Commodity MCX Tips