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RBI policy fails to impress market; Sensex falls 250 pts, Nifty below 10,800
Wednesday, December 5, 2018, 7:23 PM
RBI's policy decision to hold the repo rate at 6.5% in its fifth bi-monthly policy review failed to uplift investor sentiment, which was already subdued given the fall in global stocks. The central bank maintained its 'calibrated tightening' stance although it cut its inflation projection for H2FY19 to 2.7-3.2% from 3.9-4.5% earlier. On NSE, barring Nifty IT index all other major indices ended lower.
'BUY' or 'SELL' ideas from experts for Monday 03 December 2018
Monday, December 3, 2018, 9:20 AM
Domestic equity market is likely to open higher on Monday tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and mixed Asian cues. At 8:30 am the SGX Nifty was 68 points or 0.62 per cent down at 10,978. L&T is a 'Buy' call with a target price of Rs 1450 and a stop loss of Rs 1415.
Straddles pricing in a 400-point trading range on Nifty
Monday, December 3, 2018, 9:16 AM
The Nifty is within touching distance of the 100 DMA of 10,958, having surged 4.7 per cent in November, or over 7 per cent for futures on expiry-to-expiry basis. This rally has now retraced 50 per cent of the Aug-Oct fall that had initially put the long-term uptrend in doubt. Banks are likely to make larger strides, but are best played on dips initially.
