Major Event RBI policy
Watch Nifty
Ø Nifty has gained further strength. It's near 5900 and the risk reward ratio is definitely not in favour for fresh longs in indices.
Ø We had mentioned that Nifty faced resistance at 5870 and had repeated the same in our intra calls. Nifty touched 5870 and could not cross it even after four attempts. However we will wait to see if indeed correction materializes in the next few days and 3-4% correction will be healthy and an opportunity to re enter.
Ø For 16/9 nifty's resistance will be 5900.
SHORT TERM: - BUY NILKAMAL (523385) : - cmp : - 436 Stop-loss : - 342 (CLOSING BASIS) TARGET : - 531/ 588/ 682
