RBI policy on repo rate, CRR to set tone for Indian Markets - Microsec

Nifty continued to drift lower and fell by almost 1 percent on the first day of the week. The short term trigger for the market is the RBI policy on repo rate and CRR and no change in the rates coupled with indication that the measures taken in the last fortnight are temporary might lead to a strong short term recovery
The F&O build up still remains low and we expect the index to move in the broad range of 5700-6100 in the near term.

Nifty Put Call ratio (OI) stands at 1.00 with the total open interest in Call options at 1,003,922 lots and that in Put options at 1,000,401 lots.

Yes Bank, Tata Global Beneverages, Larsen & Toubro, Wipro Ltd, Jain Irrigation, NTPC and Asian Paints appear strong while Opto Circuits, HDIL, Adani Enterprises, JP Associates, NMDC and Coal India are likely to remain weak.

Volatility Index rose by 8.76% from 16.78 to 18.25.

Source : Equity Bulls

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