Today's RBI announcement is expected to be a trigger for break-out/breakdown from the range-bound sideways move that Nifty has been held captive into for almost four weeks now.
And given the government's conspicuous resolve to give buoyancy to financial markets,some rate cut (in CRR at least) cannot be ruled out. And that may give a 150 point jump up---
.png)
(Technically the blue channel support is not a very strong support as its a parallel line from two recent tops and that way the black TL is a stronger support line).
But if the rate cut doesnot come, a much deeper corrective would set in.Something which has been anticipated by me for long but not quite fructified so far:
EOD Post:
.png)
And it brings to the forefront the gap in 5448-5527 zone:
.png)
1.GAP
2.50DMA(5541)
3.Red TL
Ek bounce-up to banta hai boss--
And given the government's conspicuous resolve to give buoyancy to financial markets,some rate cut (in CRR at least) cannot be ruled out. And that may give a 150 point jump up---
.png)
But if the rate cut doesnot come, a much deeper corrective would set in.Something which has been anticipated by me for long but not quite fructified so far:
EOD Post:
.png)
.png)
2.50DMA(5541)
3.Red TL
Ek bounce-up to banta hai boss--
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