NIFTY INTRADAY:31ST JULY,2012
Where is the Indian Stock Market heading? I really cannot understand. Mr. Subba Rao might only know its direction tonight!!! The banking index has rallied anticipating rate cuts already today. RBI is expected again to cut rates; what it does; we will know at 11am 31st July, 2012.
RBI may take us above 5250 on Nifty charts with the rate cut or back to 5150 if it leaves the rate as it is. We are again at 5200. Directionless.In the same zone where we have struggled always. I know, none of us will act before 11am tomorrow. But what will we do? The only prayer I do tonight, no more a tight range. Up or down, I do not mind. In a range too I would like but the range be 250 points at least per week.
May we get an opportunity post 11 am to trade the Nifty Futures. Tonight I really do not know, on which side it will be!!