RBI Policy Review
The RBI increased the key repo rate by
25 basis points to 7.50 percent. RBI reduced the marginal standing
facility rate by 75 basis points to 9.5% from 10.25% with immediate
effect. The measure was taken to tighten liquidity and arrest volatility
in the foreign exchange market. RBI also RBI reduced minimum daily
maintenance of the cash reserve ratio from 99% of the requirement to
95%. RBI said that any further change in the minimum daily maintenance
of the CRR is not contemplated.
Technical Stock Tips For Today
- Jubilant Food Ltd is forming Bullish Head and Shoulder. We recommend a buy above Rs 1080 with the stop-loss of Rs. 1040 for the target of Rs. 1140.
- We recommend a Buy in United Phos Ltd above Rs 145 with the stop-loss of Rs 139 for the target of Rs. 154.
Nifty Trend Today
Looking to get 6000 mark for nifty is
quite difficult today. Nifty seems to be bearish today may get 5900 mark
today. Although Nifty has now resistance at 5980-6050 and a support
range of 5880-5820 level. Reports suggest that nifty will stay in a
range bond of 5880-5950 levels today.
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