Indian Equity Markets had a volatile trading session on Monday, one back of event-filled Tuesday. Tuesday will see three major events happening - RBI Quarterly Review, L&T and Reliance Industries Quarterly Results that are expected post-market.
Among the sectors, Pharma sector saw some buying coming in while Automobile Sector tripped on the back of poor results from Maruti and increase in loyalty payment to the parent company by 81% on y-o-y basis. Hero Honda too falled by 8% expecting the similar movement of funds to the parent company.
Provisional Data released by exchanges indicate subdued picture. Domestic Institutional Investors sold heavily during the day. They sold equities worth 700 Crores while Foreign Institutional Investors bought equities worth 120 Crores. Tomorrow's RBI policy is likely to be hawkish which is putting pressure on the markets.
Technically Nifty is likely to face some resistance @ 5450 level and then @ 5470 level tomorrow. If RBI doesn't act more hawkish than expected, then we may see some upward movement in the market. In such case, one may sell Nifty in 5460-5470 range with stop-loss @ 5487 and stop-loss @ 5420.
On the contrary if RBI policy comes more hawkish than expected, then we may see Nifty heading to 5350. In such case, one may buy Nifty @ 5340-5350 range with stop-loss @ 5325 and target price of 5380.
Among the stocks, one may continue to accumulate NMDC in 258-260 range with stop-loss @ 245 and target price @ 290.
Wishing you a great trading day tomorrow!!
Among the sectors, Pharma sector saw some buying coming in while Automobile Sector tripped on the back of poor results from Maruti and increase in loyalty payment to the parent company by 81% on y-o-y basis. Hero Honda too falled by 8% expecting the similar movement of funds to the parent company.
Provisional Data released by exchanges indicate subdued picture. Domestic Institutional Investors sold heavily during the day. They sold equities worth 700 Crores while Foreign Institutional Investors bought equities worth 120 Crores. Tomorrow's RBI policy is likely to be hawkish which is putting pressure on the markets.
Technically Nifty is likely to face some resistance @ 5450 level and then @ 5470 level tomorrow. If RBI doesn't act more hawkish than expected, then we may see some upward movement in the market. In such case, one may sell Nifty in 5460-5470 range with stop-loss @ 5487 and stop-loss @ 5420.
On the contrary if RBI policy comes more hawkish than expected, then we may see Nifty heading to 5350. In such case, one may buy Nifty @ 5340-5350 range with stop-loss @ 5325 and target price of 5380.
Among the stocks, one may continue to accumulate NMDC in 258-260 range with stop-loss @ 245 and target price @ 290.
Wishing you a great trading day tomorrow!!
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