In the review meeting of his last monetary policy, the RBI Governor Raghuram Rajan has hinted for upside risk of inflation, while the key policy rates are haven’t changed a bit as to keep the hold of economist’s expectations. This has caused market indices to end lower with the Nifty 50 index breaking 8,700. The Sensex ended lower 97 points at 28,085 and the Nifty 50 slipped 33 points to settle at 8,678. Among broader markets, BSE Midcap and the Small cap index has dropped around 0.3%-0.4%. In his last policy the Governor has increased the inflation risks, especially arising from the core inflation-services oriented.
Today’s Top NSE Gainers – Tata Power, Zee Entertain, Coal India, ONGC, Bharti Infratel, SBI, Bank of Baroda, UltraTechCement, Axis Bank, HUL.
Today’s Top NSE Losers – Idea Cellular, Lupin, Ambuja Cements, Grasim, BPCL, HDFC, Hindalco, ACC, Eicher Motors, Power Grid Corp.
Nifty Levels for Tomorrow
RESISTANCE: 8730, 8780
SUPPORT: 8640, 8590
APPROACH: BUY ON DIP
Free Intraday Tips for Tomorrow Wednesday : 10th August
BUY CYBERTECH ABOVE 70.50 TARGET 71.20, 71.90, 72.60 STOPLOSS 69.10
BUY APTECH ABOVE 94.50 TARGET 95.40, 96.30, 97.20 STOPLOSS 92.70
SELL MAWANASUG BELOW 53 TARGET 52.50, 52, 51.50 STOPLOSS 54
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