Nifty Tips
The Market got out of the 'S&P Effect” and witnessed siginicant gain Today on the back of the expectations that RBI will cut 50 basis points in repo rate or 50-100 basis points cut in cash reserve ratio. As a result, Banking , Reality, capital good and auto sectors contributed the most to push up the market. Nifty of National stock exchange earned 62 points and closed above 5100 level (5116).
The market trend is still likely to remain unexpected and Nifty can move either side of the direction.
Technically staying above 5138 may extend the rally up till 5170-5190 level while below the level of 5068 Nifty is looking bearish.
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