Today, after reaction, its time for some action now. The market appears to have made a hasty exit just as the RBI tone signaled the beginning of the end of easy monetary policy. A few surprisingly hawkish steps and comments unveiled in the RBI’s mid-year policy review set the cat among the pigeons. A hike in SLR, some tightening of lending norms and hike in inflation expectation sent a clear message that the soft corner shown during the economic upheaval will no longer be available. But, the market may have overreacted. What made the matters worse were persistent weakness in global markets and a couple of less enthusiastic numbers.
So, expect a bounce back though the start is still a nervous one due to mixed external trend. RIL will announce its results tomorrow and numbers could match expectations as there is usually some treasury gain to bank on.
With F&O expiry just a day away, further short covering could set in. Nifty Nov futures managed to end at a slight premium to the spot Nifty price.
So, expect a bounce back though the start is still a nervous one due to mixed external trend. RIL will announce its results tomorrow and numbers could match expectations as there is usually some treasury gain to bank on.
With F&O expiry just a day away, further short covering could set in. Nifty Nov futures managed to end at a slight premium to the spot Nifty price.
