Will RBI Meet Spoil Stock Market Party?

Today Flat opening with a negative bias as today is the RBI meeting (10AM) and rate-sensitive sector stocks can be in focus. Volatility will decrease after the RBI meet. Rate increase upto 0.35% is expected.

Russia uses Drones against Ukraine with Drones and this can be an escalation point.

Make money using our Bank Nifty option tips for tomorrow and be a part of the family which make profit from stock market regularly.

Crude has come to $80 dollar per barrel which is good for India. Venezuela will be able to sell its oil to other world countries as a USA company has taken control of its oil. Earlier Venezuela could sell only to select countries.

Our markets have been able to hold key support levels at 18600 so far. Data based support comes in 18550. There is too much focus on global events, interest rates etc but the fact is Indian markets have shown remarkable strength to trade near the highs. Going short is very tempting but equally risky. There will be bouts of selling with gap ups and gap downs but the overall strength remains intact. The most important Index level is 17800. As long as we are trading above it, our positional trades should not be a problem.

Today is RBI policy with the markets believing today should be the last day of rate hikes. It does not matter if it is 0.35 or 0.50, we may not increase rates any further is the important point. US numbers, election results are also coming this week so we can see some volatility. Rate sensitive sector like Nbfc, ICICI Bank and realty sector can be in focus today.

Nifty. Support at 18600/550 and resistance at 18740 and 18830.

BankNifty. Important day for the banks. Support at 42800 and resistance at 43600. I feel the range should break today.