Nifty Intra day Update

By | July 26, 2011

 

RBI governor did it again the unacceptable and Market does not like surprises.

 

Repo Rate hiked by 50 bps to 8%, effective immediately
* Reverse Repo Rate adjusts 50 bps higher to 7%
* Marginal Standing Facility now available at 9%
* Cash Reserve Ratio kept unchanged at 6%

 

Break of 5583 will take us back to 5550 where a gap needs to be filled

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