"You Cannot Control The Environment And The External Factors That Control The Stock Price Movement,But You can Control YourSelf" - Mark Dougals
we are not market maker, we are the followers. So we have to follow the trend.
RBI increased both Repo rate & reverse repo rate by 25 basis point to 8%.The reverse repo rate hiked to 3.5% from 3.25%, While Repo rate hiked to 5% from 4.75%. RBI Said measure is for reduce the inflation.
RBI's hike of Repo rate & Reverse Repo rate was not unexpected because Inflation is going higher like a Rocket. To control the Inflation RBI has take this Bold Step.
This measure has negative impact on many sectors.
The Market may react negative open to the RBI hike of Repo rate & Reverse Repo rate.
On friday Indian market was closed with marginal gains. Sensex closed at 17578, up 58 points, and Nifty at 5268, up 16 points from the previous close.
The US market closed Negative. The Dow jones Down by 37.19 points, The Nasdaq Down by 16.87 points, The S&P closed down by 5.93 points from its previous close.
we are not market maker, we are the followers. So we have to follow the trend.
RBI increased both Repo rate & reverse repo rate by 25 basis point to 8%.The reverse repo rate hiked to 3.5% from 3.25%, While Repo rate hiked to 5% from 4.75%. RBI Said measure is for reduce the inflation.
RBI's hike of Repo rate & Reverse Repo rate was not unexpected because Inflation is going higher like a Rocket. To control the Inflation RBI has take this Bold Step.
This measure has negative impact on many sectors.
The Market may react negative open to the RBI hike of Repo rate & Reverse Repo rate.
On friday Indian market was closed with marginal gains. Sensex closed at 17578, up 58 points, and Nifty at 5268, up 16 points from the previous close.
The US market closed Negative. The Dow jones Down by 37.19 points, The Nasdaq Down by 16.87 points, The S&P closed down by 5.93 points from its previous close.
The Asian Markets are retreating. Kospi has edged lower on refineries and banking stocks. Taiwan has inched down as chip makers have edged lower. Japanese markets are shut today due to national holiday.
So we are expecting Indian market open Negatively & Volatile session. Traders are Suggested do not go short at the time of Opening, first see the market trend then trade with strict stoploss & be stock specific.
Nifty may face selling pressure at higher levels, 5285-5310 May act as strong Resistance levels while 5220 may act as a good support, Breaking this level may result to slip up to next support level 5160-5180 as said in our earlier post.
Stock for Watch:
Greaves Cotton LTD:
Buy around 298-302 with sl 288 for tgt 330-340.
Nifty may face selling pressure at higher levels, 5285-5310 May act as strong Resistance levels while 5220 may act as a good support, Breaking this level may result to slip up to next support level 5160-5180 as said in our earlier post.
Stock for Watch:
Greaves Cotton LTD:
Buy around 298-302 with sl 288 for tgt 330-340.
Deccan Chronicle Hold LTD (DCHL):
For risky players buy around 170-172 sl 164 tgt 185-188.
Buy IOC @ 298-301 with sl 294 for tgt 308-311.
Previous Calls:
Century Enka achieved first tgt in a single day.
Skumar achieved its tgt in a single day.
Arvind mill almost achieved its first tgt (Made 36.40) still looking positive.
Vakrangee Soft Ltd achieved its all tgt.
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