Nifty Tips
Depreciation in Rupee against dollar and may inflation data led the market o negative territory. The inflation has increased to 7.55% which narrowed the hope of Rate cut by RBI causing market to fall during afternoon trades. BSE Index lost more than 202 points while Nifty declined 1.30% to close at 5054. Except IT and tech sectors, all other sectors had to face losses today. Infosys (+1.14% )Cipla (+1.12% )Bharat Petroleum(+.95% ) were the top performer among NSE stocks.
As we predicted For nifty today that below 5100 level it could fall down to 5055 level, the same happened in today's session. Now the residence for nifty is lying near 5170-5189 while below 5022, market can extend its losses. The trend would be much depending upon the external cues. As per our expectation, Nifty trend is likely to remain negative.
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