Nifty awaits RBI monetary policy today

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Stock Market Today by Shailesh Saraf – 7th June 2016
Indian Market Outlook:
Today the markets would eagerly wait for the RBI policy statement to be announced today at 11:00 AM IST. Analysts expect RBI to keep the Interest Rates unchanged at 6.5% but the key lookout is whether Rajan would accept the extension of his tenure as RBI chief. This would lead to a consolidation phase until the policy announcement. Market would be deciding on its next course post RBI announcements today. SGX Nifty is trading at 8269 at 8:35 am IST. Nifty is expected to open at same levels i.e. a gap up of 38 points.International Market Outlook
Asian Indices rallied, testing 5 week highs on Tuesday morning after FED chair Jennet Yellen in a speech yesterday said US rate hike would indeed be a gradual process not giving any reference to timings. She gave a positive assessment of the US economy and warned on giving too much weightage on one single data referring to the weak payrolls data last week. On the other hand the BREXIT polls, published by the Telegraph UK, that came in yesterday show an inclination of the British people towards exiting the EU. The FED's policy statement due on 15th June and the BREXIT final outcome due on 23rd June would set the market tone going forward. To know in details go to https://www.dynamiclevels.com/en/sha...t-today-070616

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https://www.dynamiclevels.com/en/sha...t-today-130616