Share Market Trading Calls/Nifty Live Update 1PM 5th April 2015
As expected last week Nifty Future began pullback post our Buy done on 26th March 2015. We were continuously advising our clients not to short and hold on to Longs built on 26th Match 2015 for Targets of 8750 (all longs were created towards end of trade) to be specific at 3.25 PM on 26th March.
Nifty Future/Nifty Minor trend is up,However Nifty Future has broken Major swing lows and stiff resistances are there ahead. Now on we have to closely watch for any resistance between 8700-8850 Nifty spot Level.
On Tuesday we have RBI policy so that will be a game changer Minor trend could suddenly change to down if RBI does not oblige with 25-Bps rate cut as markets have already factored in a rate cut. As per our view RBI has frontloaded the interest rate cuts giving more time to banks to respond. We feel further rate cuts will happen later during the year not but not in April because Inflation that came in on 4th March 2015 surprised on the upside. Minor tweaking on SLR front is possible though.
Very critical week ahead lots of action expected. We will keep providing Nifty live updates as and when possible. Expect wild price swings and volatility for this week.
Good Trading to You!