Accurate Nifty Tips for Today 

RBI is likely to raise rates by 0.35% to make sure that FIIs do not run away from India and to capture the rupee slide.

Nifty Spot View: 07/12/2022

Cmp: 18642.75

Support & Downside Range: 18577—18540—18500—18480 zone

Resistance & Upside Range: 18650—18730—18782--18888

Short-Term Trend Reversal Level: -- 18129

Trading View: Intraday bias remains range bound till nifty is trading above 18577 and below 18650 spot levels, if nifty breaks 18577 then the move gets weak, and in such case, we may fall downside minimum 18540 and max 18500—18480 zone whereas if nifty manages to break and sustain above it 18650 than we may move towards 18730 spot minimum here 18730 spot is a very very crucial rest if nifty breaks and closes above it then we may see a strong up move towards 18888 in coming days.

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Key Highlights - RBI Monetary Policy 

👉RBI hikes repo rates by 35 bps to 6.25%

👉Stance focused on the withdrawal of accommodation

👉Inflation expected to be above 4% in the next 12 months

👉GDP growth forecast for FY23 revised downwards to 6.8%

👉Inflation aim retained at 6.7% for FY23

👉CPI inflation forecast for Oct-Dec 2022 raised to 6.6% from 6.5%

👉GDP growth forecast for Oct-Dec 2022 lowered to 4.4%

👉GDP growth forecast for Jan-Mar 2023 lowered to 4.2%

Update Nifty today

Nifty live update in today's dip 18600 call has added fresh 72 lac OI and total OI  standing at 1.10C Nifty CMP 18596 if nifty spot able to cross and sustain above 1 8 6 2 5 spot after 2.30 than this call writers comes at risk ahead of tomorrow's expiry now downside today's low becomes intraday mom dad support